Video: Money Manager Says It's Really Vietnam's Time
Bill Stoops - CIO Dragon Capital
It was early 2003 when I published a cover of Forbes Asia headlined, “Vietnam’s Moment.” This story was not the last premature call of that economy’s reawakening from its post-war Communist slumber.
The always industrious Vietnamese people have gone through boom and bust cycles since, as trade and finance is opened up a bit, enough to get into trouble.
There remains a long way to go to an open, transparent economy (and society) but more is going right now. The property market is shaking off the worst of the last credit binge, big state companies are being opened up to outside investment and scrutiny (one even made a Forbes Asia top-performer list) and consumer and export sectors are showing strength.
Multinationals are increasingly present (here’s the latest news of Japanese interest in the textile output). Individual enrichment is still a sore point, but acceptance of the profit motive, by same name or another, is inevitable.
In this video discussion, we go over the macroeconomic shifts and some elements of the Vietnam story to watch out for, including its role as a China alternative: Click the link below to watch the video.