(VOVWORLD) -Vietnam is set to see the sharpest spike in wealth growth over the next decade as it cements its status as a global manufacturing hub, according to a report by global wealth intelligence firm New World Wealth quoted by CNBC on Tuesday.
 Illustration photo: laodong.vn |
The Southeast Asian country is forecast to see a 125% increase in wealth over the next 10 years, Andrew Amoils, New World Wealth's analyst, told CNBC. This would be the largest expansion in wealth of any country in terms of GDP per capita and number of millionaires, according to the firm's analysis.
"Vietnam is an increasingly popular manufacturing base for multinational tech, automotive, electronics, clothing and textile firms," Amoils said.
Vietnam, which is home to 19,400 millionaires and 58 centimillionaires, is perceived as a relatively safe country compared with other nations in the Asia-Pacific region, Amoils said, which provides companies an extra incentive to set up manufacturing operations in the county.
In last month’s periodic review of Vietnam's economy, the French Development Agency (AFD) said Vietnam continues to offer highly attractive prospects.
Country Director of the French Development Agency Herve Conan said, “Vietnam has succeeded in sustaining an impressive growth rate, despite high inflation in many countries around the world affecting imports of Vietnamese goods."
"In our three-year assessment of the macroeconomy conducted since the beginning of last year, AFD noted socio-political stability, a cautious policy mix, continually high economic growth, and the size of the domestic market of 100 million inhabitants are all Vietnam's undeniable advantages in attracting foreign companies.”