Three Emerging Global Markets
For the past 25 years, Akanimo Udofia built a career in international business, particularly in the oil and gas industry. As CEO and managing director of Desicon Engineering in Nigeria, Akanimo Udofia has witnessed the rise of several emerging economies.
Philippines — According to Central Bank of the Philippines, the country enjoyed an economic boost as investor confidence surged two years ago with the doubling of foreign investments. In 2015, CNBC reported a 5.6 percent growth in the Philippine economy. As a result, the country became an alternative investment option, competing with China during its economic slowdown.
Bangladesh — The country’s persistent corruption problem has done little to hinder its economic growth. Forbes reported that since 2003, Bangladesh has sustained a growth percentage of no less than 6 percent, despite the credit crisis during 2008. The country credits its growth to its population, comprising the seventh largest work force in the world.
Vietnam — The communist country’s recent efforts on privatization have led to reforms in the direction of development. The CIA World Factbook states that the government now only has 40% control over the economy in Vietnam. Similar to other Southeast Asian countries, an increasing workforce supplemented by industrialization is resulting in projected economic growth of 6 percent, as reported by Forbes business and economics journalist Itai Zehorai.
