Vietnam is one of the 11 Southeast Asian countries with an important geographical position in the region and a land bridge between the largest part of the Eurasian continent and Southeast Asia. This is a multi-ethnic country, rich in natural resources, possessing a golden population structure (the working age group accounts for over 68% of the population). A stable exchange rate and low inflation are favorable factors that attract foreign investment.
In 2020, Vietnam’s GDP per capita reached 3,500 USD/year, bringing Vietnam to the group of 10 fastest growing countries in the world, and among the 16 most successful emerging economies in the world at present. Currently, Vietnam’s economy focuses on three key sectors:
– Agriculture, forestry and fishery.
– Industry (including mining industry, mineral industry, processing industry, construction and production of building materials, electricity and water, gas production and distribution, etc.).
– Service, commerce, finance, tourism, culture, health, education, etc.
According to the General Statistics Office’s 2021 economic report, the agriculture, forestry and fishery sector accounted for 12.36% GDP; industry and construction 37.86% GDP; service sector 40.95% GDP; product tax minus product subsidies 8.83% GDP. This indicates that Vietnam has always been trying to improve its capacity to attract investment and accelerate economic growth. According to the 2017 “Spotlight on Vietnam” report, PwC forecasted that Vietnam would be in the group of 20 world largest economies and 10 Asian largest economies by 2050.
While developed countries are becoming increasingly constrained in terms of business and investment opportunities, Vietnam has emerged as a promising land with full potential, a connecting hub for regional and international investments and a safe destination for foreign investors.