Oil Economy Focus Rapid Review
Up to now foreign ownership has been capped at 49%, but foreigners will in principle be able to acquire a majority stake in public companies in sectors not considered critical to national security as Hanoi looks to open its economy further in order to sustain rapid growth. Vietnam is competing with rivals such as the Philippines and Myanmar to be the next destination of investment in Asia after China and Thailand. Vietnam considers that opening up to foreign investment will give access to advanced technology, which will help in the competitive race. PricewaterhouseCoopers forecasts that Vietnam will be among the world’s 20 biggest economies, based on Purchasing Power Parity, by 2050.
LINK TO THE SOURCE ARTICLE: Vietnam looks for capital and rapid growth
