Vietnam is located in the center of South East Asia and is bordered by China to the north, Laos, and Cambodia to the west.<\/p>\n
Vietnam: a growing population with growing wealth<\/strong><\/p>\n Vietnam\u2019s population is ranked as the 14th most populous country in the world. With a large population of 93 million, half of which are under the age of thirty, Vietnam represents a huge pool of both potential customers and employees for many investors.<\/p>\n Continued strong economic growth, ongoing reform, dynamic environment, re\ufb02ected in a young population, growing wealth, changing consumer attitudes – have combined to create a dynamic and quickly evolving commercial environment in Vietnam. Vietnam has been one of the fastest growing economies in Asia the past 30 years, bringing it from poverty to a lower middle income market.<\/p>\n Infrastructure investments, the manufacturing industry, the export sectors and newer consumer market in Vietnam present many opportunities.<\/p>\n Key export commodities of Vietnam<\/strong><\/p>\n Key import commodities of Vietnam<\/strong><\/p>\n Vietnam’s infrastructure and manpower costs<\/strong><\/p>\n In terms of infrastructure, the Asian Development Bank (ADB) released figures in April 2017 that mark Vietnam\u2019s public and private infrastructure investment as the highest in Southeast Asia.<\/p>\n With competitive manpower cost, Vietnam also considered as a sourcing hub (OEM), a new manufacturing alternative to China, India and other Asian countries.<\/p>\n Vietnam as a new market to enter<\/strong><\/p>\n Vietnam is a country full of customers, competitors, and colleagues; it is also a long-term market. Plan your establishment in phases, bring patience and develop a strategy for your entry and growth in Vietnam.<\/p>\n Regardless of the reasons for entry, identifying the right path into the local market can be challenging without local knowledge and experience.<\/p>\n Your steps to Vietnam market:<\/p>\n Doing international business in Vietnam can be so tempting as the country’s economy is growing. A complete market research\u00a0will help you understand the country and formulate your international expansion strategy.<\/p>\n\n
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