Why you should be keeping an eye on Vietnam

Vietnam has quietly become one of the fastest growing economies in the world, says Chris Mayer in The Daily Reckoning. And a major turning point in the country's development has just taken place. This is one awakening tiger economy that investors should definitely be keeping a close eye on...

Vietnam - a nation of 83 million people on a thin strip of lush country slammed up against the Gulf of Tonkin and the South China Sea. To the west lie Laos and Cambodia. Excluding various islands, the land area of Vietnam is not much bigger than New Mexico, though it supports a population more than 40 times as large.

In the south is Ho Chi Minh City (locally, it's still often referred to as Saigon, even though the name officially changed in 1976). And all along the coast on the way north are plenty of sun-kissed fishing villages and quiet, pristine beaches - such as those found in Nha Trang. The green jagged mountains inland, carpeted in dense misty jungles, provide a stunning backdrop. Most of the people on the beaches are adventurous foreigners - Americans, Germans, Australians and French. Mostly, they stay in foreign-built resort-style buildings dotting the bay. It is usually hot, often wet, and sometimes wetter.

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