Vietnam – Ready For Lift-Off Again?
I came across a recent post on bloomberg.com about a new economic lift-off for Vietnam. Vietnam was a fast growing economy for many years but economic mismanagement by the government reduced the growth rate to the 5-6% level recently and led to a loss in consumer and investor confidence. Foreign investment is pouring in again as many manufacturers flee the rising costs in China.
PricewaterhouseCoopers LLP believes the country has the potential to become one of the world’s fastest growing economies over the period to 2050. With a population exceeding 90 million and rising disposable income, Vietnam was also the third fastest growing foodservice market in Asia Pacific the past 5 years at a compounded rate exceeding 11%.
We have worked in this market for the past two years with both international and local chains and feel that it should be a key priority market for global foodservice operators going forward.
Does your company have a Vietnam strategy?
