Van Eck notes that while Vietnam is still a communist country, it is beginning to adopt capitalist ways. Foreign investors have invested $8.7 billion directly in Vietnam in the first six months of the year, and those investments are projected to skyrocket in the second half of the year for full-year 2009 investments of $2 billion, according to Vietnam’s Foreign Affairs Ministry. Another $22 billion is expected to be invested in 2010.
“If you look at the horizon [in Vietnam] now,” said Chris Wolf, co-chief investment officer at