During market briefings held recently by HKTDC to update Hong Kong small and medium enterprises on trade issues and opportunities in the US, Thailand, Vietnam, Cambodia and India, HKTDC director in charge of Vietnam, Tina Phan, said that Vietnam has recently been hit hard by soaring food and oil prices, and the government is trying to rein in inflation, which has climbed to 16 percent.

According to Mr Phan, Vietnam’s fundamental advantages include a cheap labour force with a high literacy rate, risk diversification, a base for exports and stable political and social conditions.