About Vietnam

The New Manufacturing Hub

Vietnam, a country with favorable economic outlook, with steadily increasing GDP up to 7.08% for 2018 and inflation under control (3,54% in 2018), is an upcoming pearl still unknown for many investors. While most investments in the past took place in the south of the country, the majority of new investments are now going to the North (Haiphong area) due to the new infrastructure, large tax incentives offered by the government, low operational cost and availability of utilities.

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Quick facts

  • Capital: Hanoi
  • Bordered with China, Laos, Cambodia
  • Population: 96 million (2019), average age: 29
  • Currency: Vietnamese Dong
  • GDP per capita (2018): 2,587 USD

 

Strategic location

  • Center of South East Asia (ASEAN), close proximity to China, India markets
  • 3.1 billion people within 3500 km (3-4 days shipping, 4 hour flight time)
  • Growing domestic market of >96 million people

 

High Economic Growth

Second fastest growing country in GDP per capita since 1990

  Vietnam GDP 2018

 

Global Economic Integration

  • One of the world's most open economies
  • Lower to none trade barrier via 15 signed Free trade agreements
  • Increasing international relations
  • Connected to countries representing 68% of world population and 78% of world GDP
  • Easy access to 4.1 bio people

FTAs

 

Improved Infrastructure

  • 23,000km of highway
  • 21 airports (11 international)
  • 39 seaports over 3,440km coast line, with 3 major deep sea ports of 14 draft and over 

Competitive Production Cost

  • Tax exemption and reduction for 15 years
  • Energy supply at competitive cost
  • High participation of women in labour market

Tax rate 2018 WTO copy        Production cost 2018

 

Competitive Human resource

  • Young and abundant labour force
  • 55 million people within working age
  • Well educated and hard working
  • High technological awareness

Labour productivity 2018   Worker wage 2017