“If projected GDP growth of 5 to 6 percent in 2009 and accession to the World Trade Organisation sound like good news, then now could be the time to take a closer look at Vietnam,” said Cranville in the Pittsburgh Business Times on February 13. 

He said that the Asian Tigers such as Hong Kong, the Republic of Korea, Singapore and Taiwan roared in the 1990s, focusing on rapid economic growth and export-oriented industrialisation. Now the focus has shifted from them to other Asian economies undergoing economic transformation — even during the global economic downturn.

According to the executive, market entry timing is critical, and as part of its long-term opportunity Asian strategy, the Pittsburgh Regional Alliance is promoting Vietnam and opening doors for Pittsburgh-area companies to explore this dynamic Asian market.

Cranville is leading a delegation of 15 businesses and academics from the Pittsburgh region on a visit to Vietnam from February 14-21 to explore investment opportunities and establish partnerships. They are scheduled to make a fact-finding tour of Hanoi, Da Nang and Ho Chi Minh City.