Vietnam has achieved rapid economic growth over the past two decades by continuously implementing market-oriented reforms. With a population of 91.7mil, Vietnam has managed to achieve average annual gross domestic product growth of 6.68% in 2014. Vietnam’s gross domestic product per capita rose from $843 in 2007 to $2,109 in 2015.
Vietnam has weathered global macroeconomic instability well, posting an average growth rate higher than regional comparator countries. In addition, Vietnam has recorded strong foreign capital inflows since Vietnam’s accession to the World Trade Organization in 2007. The country is now classified as a lower middle income country (MIC). Its development has benefited from political and social stability.
Knowing the importance of the growing market, RHB Banking Group made “in-roads” by setting up a Representative Office in Vietnam in 2008.