Vietnam has been ranked 16th out of 27 countries in the latest Grant Thornton emerging markets opportunity index, which is calculated based on factors like size, wealth, involvement in world trade, growth potential, and levels of human development.
According to the Grant Thornton International Business Report 2010, Vietnam’s economy has become increasingly open in recent years, especially after joining the World Trade Organization in 2007, and increasingly diversified, though agriculture still accounts for more than a fifth of its GDP.
Its foreign direct investment flows averaged US$1.3 billion annually between 1990 and 2000, the report says. In 2008 it had risen to almost $65 billion before falling to $20 billion last year due to the economic downturn.
According to the report, the top five countries in the emerging markets opportunity index are, in order, China, India, Russia, Mexico, and Brazil.
Emerging economies occupy four of the top five places in terms of optimism for the year ahead -- Chile, India, Vietnam, and Brazil.
Ken Atkinson, managing partner of Grant Thornton Vietnam, said the importance of emerging markets to the world economy has been proved as the world emerges from recession.
“Not only have these economies been less severely hit, but they are also recovering more quickly, with growth rates over the next two years forecast to be double that of more mature economies," he said.
However, the survey also reports that businesses in emerging markets fear their growth prospects are being hampered by poor access to finances and a lack of highly-skilled workers.
It surveyed a sample of 7,400 chief executive officers, managing directors, chairpersons, and other senior executives in medium to large private businesses in 36 economies.
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