Credit Suisse estimates that Vietnam will become the second largest global economy in Asia, signalling the Swiss banking giant’s ambition to increase its business involvement in the country. "Thanks to structural reform, political stability, pricing advantage, low costs, and younger population in Asia, Vietnam has become extremely attractive, especially after it joined the World Trade Organisation in November 2007," Credit Suisse said in its news network. The Swiss bank's comments come at a time when the growth in the mass affluent and high net worth segments of Asian populations are expected to be strong, driving demand for private banking services in the region. Vietnam has developed into a market-oriented economy from a planned one. After joining the WTO, Vietnam has enjoyed an easier approach and integration into the world market, thus helping the country increase its exports. Vietnam's average annual GDP increased by 7.1 per cent over the past decade, Credit Suisse said, adding that in the past three years, the country’s GDP growth ranked third in the region, just after China and India.