Tiếng Việt
Vietnam is considered as the third largest market in Southeast Asia and one of the fastest growing economies in the world. Recently, Vietnam is rising as one of the most ideal destinations for capital investment. Here are top 11 reasons why traders should invest in Vietnam right now to maximize valuable profits.
Mục lục
Strategic location
Vietnam is located in the center of Southeast Asia, on the East of the Indochinese peninsula, closed to many major markets in Asia, especially is the neighbor of the second strongest economic country in the world – China. The country possesses an ideal location for international trade with the long coastline to the East Sea, which is the main international transportation and the perfect conditional venue for trade activities.
GDP Growth
Since the economic reforms launched in 1986, Vietnam’s econmy has grown substantially. The annual Gross Domestic Product (GDP) in Vietnam increases from US$600 per person in 2005 to a favorable US$2,700 in 2019, a massive increase in just a decade. GDP growth also implies that Vietnam is the best destination for investors to conduct investment project.
Substantial and potential market
Vietnam’s economy has had a great leap forward since 30 years. With over 96 million inhabitans and young worforce, Vietnam has the domestic consumption potential. Moreover, there are considerable changes in spending habits of Vietnamese people. Demand for modern retailing services is surging, making retail trade sector an attractive investment field for domestic and foreign investors.
Trade openness for investors to invest in Vietnam
Vietnam has always been welcoming to foreign investment and encourages it by constantly renewing regulations and providing FDI incentives. After officially becoming a member of the World Trade Organization (WTO), Vietnam has participated in many international cooperative agreements including various free trade agreements (FTA) with many regional and global partners. Recently, Vietnam has has ratifies EVFTA, which brings many opportunity for traders who invest in Vietnam
Growing population
With more than 96 million residents, Vietnam ranks at the 15th most populous country in the world, the 3rd most populous contry in ASEAN. By 2030, the population will grow to 105 million, as forecasted by Worldometers. Together with a growing population, the middle class of Vietnam is increasing faster than that of any other Southeast Asian nation. Steadily increasing economy means bigger income which, in turn, will result in growing middle class. Vietnam’s high population and young workforce contributes to the consumption potential in the country, which promote traders to invest in Vietnam
Youth population
According to the Central Census Steering Committee, the young population (from age 15 to 64) in Vietnam takes approximately 68% of the total population which is more than 96 million people. This vast, well-educated, and relatively cheap workforce has become one of the Vietnamese major assets.
Natural resources
The abundance of natural resources of oil, gas, coal… has attracted iternational exploration companies. Morover, Vietnam is also rich in other natural resources including marine resources and agricultural potential. It implies that there are many opportunities for investors to set up a business/project in our country.
Cheap labor
The average income of one Vietnamese is about 2,800 USD a year. Therefore, new startup has the ability to attract talent to work for the company with a salary that may be less than $200-300/month. For people with years of work experience or prestigious qualifications, the salary may be $1,000.
Low setup costs
A minimum capital is not required for most bussiness lines in Vietnam. Investors can open a business with a charter capital in accordance with their scope of operation, without a large amount. However, the amount of capital must be fully paid within 90 days from the day company is registered.
Infrastructure
Vietnamese Government has improved the infrastructure development to be able to attract foreign businesses set up factories, offices, production chains in Vietnam. Better and modern highways, airports, seaports are the key factors that will facilitate transportation and logistics activities for businesses, help reducing their running cost and create an ideal investment environment.
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With over 10 years of experience operating in the field of law with a team of experienced, enthusiastic personnel. LNP LAW is confident to bring the best service to customers in the fields of Investment, Intellectual Property, Business. The above article has summarized Top 11 Reasons Why to Invest in Vietnam.
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– Advice, support, answer your questions related to investment in Vietnam
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