Top five emerging economies of the world

Top five emerging economies of the world

01 Apr 2014

Top five emerging economies of the worldApart from investing in the countries, which have been already declared as world’s super power, investors are seeking new opportunities to invest their capital in a more fruitful way. According to the recent studies, here is a list of the emerging economies of the world, which have the potential to become future global super powers:

1. Ethiopia
Ethiopia tops the list of global super powers of the world. The reasons are straight and simple. This country is gaining mammoth GDP each year, thanks to its agricultural backbone. The country has plenty of scopes in the manufacturing sectors. The government is keen attract the foreign investors and hence, policies for the corporate are quite flexible as well as lucrative.

2. Panama
Panama is the fastest growing country of America, having a sharp GDP of 10.5% last year. It flaunts friendly government policies to attract the investors. The Panama Canal is the biggest source of income for the country and every year it handles billions of dollars’ worth of imports. Panama uses the U.S. dollar, making doing business there very easy for Americans. Panama’s projected GDP growth rate stands at 6.9%.

3. Iraq
Iraq has the second largest oil reserves in the world, and after years of unrest, the country now finally appears to be stable. Stifling bureaucracy still remains a problem – making this market one for the brave-hearted – but projected GDP growth rate is at 6.4%. Though having security problems, the county has successfully attracted foreign investors due to the government aggressive policies for producing oil.

4. Mongolia
Located between Russia to the north and China to the south, Mongolia is predicted to be the fastest growing economy in the world in the next two decades. The country has the world’s largest copper reserves, significant gas fields and onshore oil, vast gold reserves, and an abundance of other precious minerals. About 88% of its exports are minerals.

5. Serbia
Serbia is a country that’s looking to the future and has put forward a very enticing package meant to draw visitors. Companies that decide to set up shop in the country get 10-year corporate tax breaks, provided they meet some minimum capital and labor requirements.