Vietnam takes the lead in the top 15 of the most promising frontier markets in the world, according to a recent edition of Bloomberg Markets Magazine.

The assessment and analysis were based on the criteria of investment environment, GDP growth, public debt and advantages for business.

Out of the countries with less developed economies that haven’t yet achieved emerging status, Vietnam is the only East Asian country to be placed, reported the magazine.

The United Arab Emirates came second while Bulgaria and Romania tied for third place.

Vietnam leads the list primarily because of its rapid growth of GDP, which is expected to exceed 3 percent by 2016, a rate that rivals China and India. /.