Vietnam - The coming of age of a vibrant Tiger Cub Economy

VIETNAM IS the youngest - and most vibrant - member of the so-called "Tiger Cub Economies". Its economy is expected to grow by up to 6.8 per cent in 2018, underpinned by an open economy, foreign direct investment and a youthful and literate population. The government National Assembly set a GDP growth target of 6.6 per cent-6.8 per cent for 2019 which we see as achievable despite the continued uncertain global environment.

Of the Tiger Cubs - which include Indonesia, Malaysia, the Philippines and Thailand - Vietnam is a relatively latecomer in terms of economic development in the region. However, it is forecast to be the fastest growing economy among the Tiger Cubs over the next five years.

Vietnam achieved its remarkable growth performance through a foreign direct investment (FDI) led export-oriented strategy which was successfully used by other countries such as China and the Asian Tiger economies.