Vietnam is one among four emerging economies reaching the highest growth in Asia and has great potential to compete with regional countries and China, says Ernst&Young, a leading professional service organisation.

James S. Turley, Chairman and Chief Executive Officer of Ernst&Young said at a press briefing on September 24 that despite many challenges, he was still optimistic about the Vietnamese economy.

"A young and educated population is a huge potential that Vietnam has," Turley said.

"With a population of nearly 90 million, more than half of whom are under 30, the country has a strong economic advantage in boosting innovation and creativity," he explained.

An Ernst&Young statement released on the occasion of the firm's 20th anniversary in Vietnam said the country has made great strides in becoming a global player, not the least through WTO accession in 2007 and was increasing its competitiveness relative to others in the region, particularly China .

In addition, a wealth of dynamic and entrepreneurial talent was the country's strength, it said.-VNA