Peter Healy, New Zealand’s former commercial counselor in Vietnam, on September 25 said on stuff.co.nz that Vietnam is one of the most accessible places in Asia. He described Vietnam as a high-potential country where two thirds of the urban residents are under 30 years old. Their demand for high-quality products, some of which are made in New Zealand, is rising as their incomes double every several years.

Vietnam has seen an annual increase of 30 percent in the retail market over the last decade and presents a good opportunity for foreign businesses. New Zealand’s Retrol Clothing Company in Aukland has invested in Vietnam not just to reduce production costs by two thirds but also attract more attention than when they were doing business in their home country.

According to Peter Healy and Mitchell Pham, General Director of Augen Software Solutions Company, New Zealand has missed many opportunities to invest in infrastructure, schools, airports, and seaports in Vietnam because they think more about production costs than long-term benefit.