This growth is reflected in the affluence that is rapidly growing among the Vietnamese. In fact, budget carrier VietJet Air grew phenomenally last year, with around 50% jumps in both revenue and pre-tax profit from its aviation business. Since taking flight in December 2011, it has grown to post more than US$2 billion in revenue last year, on the back of soaring demand for travel, both within and out of Vietnam.
SINGAPORE (Aug 5): There is no denying the success that is Vietnam. From its impressive GDP growth to the rapid development of its infrastructure and economy, the country is, as one expert put it, “the blue-eyed boy” of Southeast Asia.
On paper, it does indeed appear that Vietnam is on an unstoppable growth trajectory. After the introduction of its economic and political reform policy, called the Đổi Mới, in 1986, the country grew rapidly, propelled by the twin engines of export manufacturing and domestic demand. Today, its GDP value is about US$255 billion ($350 billion), and the World Bank forecasts GDP growth for 2019 at a robust 6.6%.
