Did you know that 60% of Vietnam is under the age of 25 and GDP growth has eclipsed China's GDP growth in the last 2 years. In fact, the growth here is so fast that both IDG and DFJ have setup venture funds in the region.
I have grown to appreciate the Vietnamese culture after leaving Asia. While living in San Jose, I interacted with several vietnamese who ran local stores, bakeries, and of course PHO shops. I find them to be a very open, friendly, and hard working culture.
The food is quite good as well. Nothing beats a bowl of pho or some vietnamese catfish. The meals are light yet filling. Another interesting stat is that over 50% of the catfish in the US is imported from 'Nam. Don't tell that to the rednecks, who love cajun catfish, they'll stop eating it.
Recently, I have interacted with some technology companies in the region and was quite impressed with their abilities to build and bring products to market. While they are quite far behind in innovation, they will undoubtedly serve the needs of executional development help. And isn't that where it all starts?
With the upcoming recession, US companies will look to outsource more. India and China are quite mature in this realm with much higher labor rates. Compounding the reduction in both withholding taxes and tariffs on imports like textiles as well as talented low cost labor, Vietnam is the place to be.
I'm long 'Nam, but this is a hold for 5-7 years. How about Yum in 'Nam? I think they would have to expand into selling beef and not just chicken. Look for beer companies to make a big move that is always a tip for a rising economy just as Bud bought into Tsingtao 5 years ago.
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