Property advisor Cushman & Wakefield has announced its expansion into Vietnam with the opening of an office in Ho Chi Minh City. The new office is Cushman & Wakefield's 30th location in Asia-Pacific region. Cushman & Wakefield celebrated its 90th anniversary last year, and used the occasion to launch an expansion programme in Asia-Pacific.
Property advisor Cushman & Wakefield has announced its expansion into Vietnam with the opening of an office in Ho Chi Minh City. The new office is Cushman & Wakefield's 30th location in Asia-Pacific region. Cushman & Wakefield celebrated its 90th anniversary last year, and used the occasion to launch an expansion programme in Asia-Pacific.
The office in Ho Chi Minh City will be led by Toby Dodd, a chartered surveyor who has worked with Cushman & Wakefield in London, Hong Kong and Singapore. 'Despite uncertainty in the global financial markets, Asia Pacific, and in particular it’s emerging markets, offer Cushman & Wakefield and our clients tremendous growth opportunities,' commented Michael Thompson, CEO of Cushman & Wakefield's Asia Pacific operations.
Vietnam is the 2nd fastest growing economy in Asia with a population of 87 million, 70% of which are under 35 years old. Cushman and Wakefield said Vietnam's decade-long effort to win entry to the World Trade Organisation had triggered 'a transformation of the operating environment'. This has set Vietnam on a course of market opening and deregulation policies, assisting it to transition from a rigid centrally planned economy based on collective ownership to one which is decentralized, socialist, yet market-orientated economy.
Foreign direct investment continues to grow in Vietnam and is forecast to exceed $20 bn (EUR 13.6 bn) in 2007.
