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Vietnam to host APEC gathering in 2017

Reporter: Calum Stuart 丨 CCTV.com

11-22-2016 00:49 BJT

Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

As the APEC leaders' meeting wraps up in Peru, attention now turns to Vietnam, hosts of next year’s APEC.

"It’s ten years since the last time Vietnam hosted APEC, and a lot has changed with the country since then. In the last six or seven years, we’ve seen Vietnam transform into one of the fastest growing economies in Southeast Asia, and very much becoming one of the go-to nations for foreign investment.

And in this sense Vietnam has a lot going for it; the Vietnam government has made a lot of changes to legal and monetary policies, making it far more open to investment and trade; it has a young and energetic domestic workforce boosting a strong manufacturing industry; it has good political stability and low inflation.

Now, there has been something of a snag in free trade sector in recent weeks. The Trans-Pacific Partnership - the trade agreement that was designed to forge economic bridges throughout Asia Pacific countries - now looks all but certain to collapse following the election of Donald Trump in the United States.

That said, investment consultants and and banking strategists I’ve spoken to have said that, “Sure, this will make a difference to Vietnam’s economic forecast, and it might not get the boost that a lot of people had hoped for.” But they concur that, despite this, economic growth expectations in Vietnam look set to continue on very sure footing.

And I think that's what we’re going to see more of in APEC next year; Vietnam really promoting itself as one of the safer and most attractive places in Southeast Asia to look to for business investment opportunities … and how the Asia-Pacific nations will now bolster and work around free trade agreements in a post-TPP world," Calum Stuart reports from Ho Chi Minh City.

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