May 1, 2008 — Rotarians Thursday got an up close look at an example of economic globalization in Miguel Pardo de Zela's talk on Vietnam.
Pardo de Zela, a consultant on global trade and investment management, left St. Croix in the 1960s and became a Foreign Service diplomat, serving in seven posts on five continents. He has since returned to St. Croix and is now partially retired.
"Getting Globalization Right and What it Means for the USVI" was his topic at the Rotary Club of St. Croix's weekly meeting at Gertrude's Restaurant.
"Vietnam is the hottest market in Southeast Asia right now," Pardo de Zela said.
He told Rotarians to get rid of the picture of Vietnam they may still have from the Vietnam War of 35 years ago. We think more about the war than they do, Pardo de Zela said, and they just want to move on and grow.
He said Vietnam is projected to become a sort of mini-China. He said it is a young country with 60 percent of the population under 27 — and they are driven to succeed.
According to Pardo de Zela, Vietnam joined the World Trade Organization last year after 10 years' of negotiations, making it now one of the most open trading economies in an increasingly globalized world market. He said businesspeople have all sorts of protection when doing business with WTO members.
Pardo de Zela, whose specialty is in developing and transitional economies, said some of the best business prospects in this developing country are in computer technology, telecommunications, oil and gas, and medical equipment. He said that English language teachers are the No. 1 business prospect.
"Vietnam is fast-growing and dynamic, with a lot of opportunity," said Pardo de Zela. "Vietnam is also a safe, secure country with support services for businesses. It's an exciting time to do business with Vietnam."
For more information on global investment and trade call Pardo de Zela at 778-3730.
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