 Workers at An Phat Garment Company in Binh Dinh province (photo: Tran Viet/ VNA) |
It lists five key markets in Asia-Pacific with growth potential for brands and retailers this year, including Vietnam, China, South Korea, Indonesia, and India. Vietnam is considered a key growth market in the region and Vietnamese are the most optimistic about the national future economy with about 70% of the Millennials (people born between 1981 and 1996) optimistic about positive growth.
The report says that Vietnam has emerged as a preferred destination for multinational companies because of the low rate of production disruptions during the COVID-19 pandemic. Domestic technology companies and investment in technology will turn Vietnam in to a regional technology hub.
It predicts that along with improvements in logistics infrastructure that drives e-commerce to an estimate of 49 billion USD by 2025, Vietnam is the fastest growing digital economy in Southeast Asia and will become one of the fastest growing economies in Asia this year, with a projected GDP of 6.2%.