A corner of HCM City. Viet Nam is seen as an attractive destination to investors. — VNA/VNS Photo Hoang Hai

Rapid economic growth and high business profits have made Viet Nam an attractive destination for investors, CEO of Russia’s VTB Capital Investments and Senior Vice President of VTB Bank Vladimir Potapov has said.

He told the press on Sunday that Viet Nam’s location, mineral and labour resources have supported its economic growth effectively.

He also highlighted the country’s potential to raise profits of businesses and spur the growth of the stock market and its economic reforms, with annual growth rate of 6-7 per cent and inflation rate at 2-3 per cent.

The population structure, with 41 per cent of 94 million people below 25 years ago, has also created favourable conditions for national economic growth, Potapov said.

According to him, Viet Nam is an important frontier market and it will take the country one or two years to reach the status of an emerging market.

The higher status would help Viet Nam attract investors who are seeking growth opportunities amidst the sluggish global economy and low interest rates, he said. — VNS