Viet Nam's GDP grew 5.3% last year.  And the government is projecting 7% growth this year.   Given the strains of the slow global economic recovery, this is a growth rate that most economies would welcome.  And so it is not surprising that Viet Nam's business leaders are highly optimistic.  According to a recent survey by Grant Thornton, 92% of Viet Nam's businesses are anticipating profits for 2010.  That is the highest rate of any country in the survey.  Business Week's Vanessa Wong reports on the survey:

The report was based on surveys of 7,400 managers of medium-to-large privately held companies in a broad range of sectors—mainly cleantech, food and beverage, construction and real estate, hospitality, transport, manufacturing, retail, financial services, health care, and technology—in 36 countries to gauge which holds the greatest upside potential for 2010. Vietnam scored highest in three forward-looking growth categories: employment, revenue, and profitability. Further categories included overall optimism (Chile ranked No. 1, with Vietnam fourth) as well as exports and research and development.

Of 150 companies surveyed by Grant Thornton in Vietnam, 95% expect higher revenues and 92% say profits will increase in 2010. The global average was 54% and 47%, respectively. A new survey by HSBC of small-to-midsized enterprises also puts Vietnam on top for business confidence in Asia.

Ken Atkinson, managing partner at Grant Thornton Vietnam in Ho Chi Minh City, says: "People are pretty optimistic about this year." Citing new roads and power plants under construction, Atkinson has noticed in recent months an increase in due diligence in mergers and acquisitions. "I expect more companies will be working at full capacity [this year] than previously."

Read the full article here.

And take a look at Business Week's Best Profit Outlook slide show, with some good country-specific detail, here.  

Details on the Grant Thornton survey are available here.