Vietnam to see 125% increase in wealth in next decade: New World Wealth

A corner of HCM City (Getty Images/CNBC)

Hanoi (VNA) – Vietnam is poised to see the sharpest spike inwealth growth over the next decade as the country cements its status as aglobal manufacturing hub, US business news website cnbc.com quoted a reportfrom New World Wealth – a wealth intelligence firm based in South Africa andHenley&Partners – a global leader in residence and citizenship by investmentbased in London.

New World Wealth’s analyst Andrew Amoils told CNBC that the Southeast Asiancountry will experience a 125% increase in wealth in the next ten years, thelargest expansion in wealth of any country in terms of GDP per capita, andnumber of millionaires.

 “Vietnam is an increasinglypopular manufacturing base for multinational tech, automotive, electronics,clothing and textile firms,” the website quoted Amoils as saying.

Thecountry, which is home to 19,400 millionaires and 58 centimillionaires, isperceived as a relatively safe country compared with other nations in theAsia-Pacific region, Amoils said,which provides companies an extra incentive to set up manufacturing operationsin the county.

The CNBC's article (Screenshot photo)

A report from McKinsey showed that Vietnam’s strategic location,low cost of labour and infrastructure supporting exports have all transformedthe country into a prime destination for international investment.
 
Meanwhile, chief investment officer of VinaCapital Group told CNBC that Vietnamis developing rapidly and most of the population is benefitting./.  

VNA