The Vietnamese economy is growing at a steady pace, and the economic fundamentals are in place. Furthermore, with the expansion of its considerable middle class, Vietnam is home to a rapidly growing consumer goods market. Demands in infrastructure, healthcare and agriculture are also generating business opportunities that appeal directly to foreign investors.
“FDI has been playing a crucial role in Vietnam’s growth over the past 30 years as a big trailblazer for the economy. FDI can be likened to a bee that has been both sucking honey and pollinating the economy,” said H.E. Nguyen Chi Dung, Minister of Planning and Investment at the dialogue with KPMG clients on May 15, 2018 in Hanoi.“Vietnam will continue attracting more FDI, but selectively. High-quality FDI will be prioritised in attraction.”Vietnam is diverse, geographically, and there is not one single magic formula to enter into business here.
Vietnam’s real GDP achieved an average growth rate of 7.3% in period of 2005-2009 before it declined to 5.3% in 2009 due to the global financial crisis which started in 2008.
Recovery began in 2012, with GDP growth gradually increasing and reaching 6% in 2014. Despite the global trade recession and China’s economic growth slowing down, which impacted most parts of Southeast Asia, Vietnam proved to be resilient to the turbulences and still scored a growth rate of 6.8% in 2017, highest rate in nearly 10 years
About KPMG | The 2018 edition of “Investing in Vietnam” and “Vietnam Market Entry”
Through these booklets, we hope to showcase the wide variety of opportunities and challenges that Vietnam has to offer. Apart from that, the booklets also highlight factors which contribute to the success and give advice for newcomers to this promising market.