Tiếng Việt
With a fast growing economy and large population, Vietnam is now a destination to attract foreign investment. Here are 10 reasons why you should invest in Vietnam right now.
Mục lục
1. Ideal geographical location connected with other major markets
Located in Southeast Asia with over 300 thousand km2 of Pacific Ocean. The northern land border extends to China, the world’s largest market with more than 1 billion people. Strategic geographic location near the world’s freight road and many deep-water ports make Vietnam become center for transporting passengers and goods between China, Singapore and Southeast Asian countries.
2. Large consumer market with great development potential
The population more than 90 million people and the fast growing economy make Vietnam a potential market for domestic and foreign investors. The majority of population in working age and increasing proportion of middle class make demand for goods and services in Vietnam very large. Number of rich and super-rich people increased rapidly, so market of luxury products also increased. Demand of goods and services in Vietnam is still considered to be not fully utilized.
3. Open Economic
Vietnam government made great efforts to open up and join the global economy. After becoming an official member of the WTO in 2007, Vietnam has signed and participated in many bilateral and multilateral international agreements between countries and many territories around the world. As a result, trade exchange between Vietnam and countries such as USA, China, Japan and EU increased. This is also a golden opportunity for investors from these countries to invest in Vietnam.
4. Enhancing political institutions with the provisions of law
After Doi Moi policy of 1986, Vietnam Government has continuously made policies to adapt to the market economy. Since then, the legal system has improved significantly to create a transparent environment for investors. A series of new laws such as Enterprise Law, Investment Law, Civil Code and Labor Law take effective in 2012-2016, have significantly improved Vietnam’s investment reception policy.
5. Large labor market
Currently Vietnam is in golden age of population when more than 50% population in working age. Vietnam workers are assessed to be skilled, hard-working, intelligent and well-trained. Government’s policy exporting labor to countries such as South Korea and Japan has significantly improved worker skills. Cheap labor costs make Vietnam workers highly competitive with workers from other countries such as India and Thailand.
6. Infrastructure is continually invested
Understand one of the factors that attract foreign investors is synchronous and developed infrastructure system. Over the past decades, Vietnam Government has invested in infrastructure development projects. National Road 1A, Long Thanh Airport Project, Dung Quat Port Project, etc. All are aimed at improving and synchronizing the infrastructure system in Vietnam for business activities.
7. Industrial zones, export processing zones and hi-tech parks
Vietnam has a system of industrial zones, export processing zones and high-tech zones that are synchronously connected to highways, airports and seaports. Businesses in these areas receive special incentives such as low tax rates, quick investment procedures, preferential land rental rates. In addition, business support services like logistics, technology are also more professional and complete.
8. Rich natural resources
With many mines of iron, coal, rare earth, bauxite, oil, gas, etc. Vietnam is considered a country with rich natural resources. This is advantage for industrial production activities when being proactive in raw materials. Being located in the shipping route of Asia also makes the supply of raw materials in Vietnam guaranteed.
9. Economic and political stability
In the past, Vietnam has experienced many large wars with France, United States and China. Decades of war left the country devastated and the economy lagging behind. After reconciliation, Vietnam Government prioritized policy of making friends with all parties in diplomatic relations. This made Vietnam become neutral and growing position in international relationship. Rated as a country with stable economy and politics. Vietnam is becoming a safe destination for investors’ capital.
10. No minimum capital required when invest in Vietnam
Unlike many other countries in the world, Vietnam does not require minimum capital when invest. You can set up a company in Vietnam without a large amount of money in your bank account. It is only necessary to ensure the financial capability to cover the costs of establishing and operating a business in Vietnam.