China and India are old news. But there is one place that is proving to be a sound choice for investors this year. If you invested in Vietnam early this year, you are up 60%. Here are some facts about Vietnam that make it a promising investment over the next couple of years.

• Intel is planning a $300 million dollar chip plant there.
• Vietnam is home to the 2nd largest Nike production facility after China.
• Over 50% of Vietnam's population is under 25 years.
• A recent leadership change is dedicated to reforming various government owned sectors through privatization.
• 70% of products manufactured are exported - 2/3 of which is exported to the US.
• There is a good chance that Vietnam will become a member of the World Trade Organization this October. Once this happens, it will open up Vietnam to many more financial markets worldwide.
• GDP growth is currently between 7%-8%, second only to China among all Asian nations.
• Labor and production costs in Vietnam are one-third the cost of that in China, giving Vietnam a competitive advantage over China.

There are a few things that investors should keep in mind though. Vietnam's stock market only consists of a little over 40 companies, although privatization should increase this number. Additionally, Vietnam's market is only about 6 years old, which means there is not much history to learn from. Lastly, Vietnam's economy is mostly consumer driven. For an economy to sustain itself long-term, it needs to be driven by businesses.

Nevertheless, I believe Vietnam is a worth a look for investors vary of China, Brazil and India. Look for investments in the infrastructure, banking and consumer related stocks. If you find any, share them with me.

-- Faisal Laljee