Vietnam has emerged as an attractive destination to investors thanks to its rapid economic growth and high business profits, said Vladimir Potapov, CEO of Russia’s VTB Capital Investments and Senior Vice President of VTB Bank.

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Its geological location, mineral and labour resources have supported Vietnam’s economic growth effectively, he told the press on September 29.

 He highlighted the country’s huge potential to raise profits of businesses and spur the growth of the stock market.

 He spoke of Vietnam’s economic reform, with an annual growth rate of 6-7 percent and the inflation rate at 2-3 percent.

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

 According to him, Vietnam is one of the important frontier markets and it takes the country from 1-2 years to reach the status of an emerging market.

 The higher status would help Vietnam attract investors who are seeking growth opportunities amidst the sluggish global economy and low interests rates, he said.