Van Eck Global has announced it will release a new exchange-traded fund to invest in Vietnamese stocks, capitalizing on extreme growth in Asia led by a strong manufacturing sector. The new fund will launch on Monday, August 17.

The Market Vectors Vietnam ETF (VNM) joins a variety of emerging-market exchange-traded funds currently listed on the NYSE Arca exchange, but will be the first Vietnam-only fund. The fund will track stocks that post at least 50 percent of their revenues from the country, according to Reuters. Van Eck noted in a statement that Vietnam’s growth potential looks strong, with more than half the country’s populace under the age of 25.

Vietnam’s economy is one of the few to show growth in 2009, logging a 3.9% growth in GDP in the first six months of the year.