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About Vietnam

The Vietnamese economy, valued at US$ 200 billion, grew by a robust 6.1% in 2016, making it one of the fastest growing markets in the world. Vietnam has a large population of 95 million, with a median age of 29 years. 70% of the population is of working age and 33% live in urban areas.

The government has sought to open up the country to trade and investment – which are the key drivers of the economy. Vietnam received an estimated US$ 15.8 billion in actual FDI in 2016, up 9% from 2015. It is seeing more manufacturing and technology-based investment projects in recent years, and has gained worldwide fame as a go-to place for export manufacturing.

Population: 95.26 million
Inflation Rate: 2.8%
Currency: Vietnamese Dong (VND)
Ave Exchange Rate: VND 22,347: US$ 1
Imports: US$ 161 billion
Exports: US$ 169.2 billion
GDP: US$ 200.5 billion
GDP per capita (PPP): US$ 6,400
Real GDP Growth: 6.1%
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INDUSTRY REPORTS

Over the years, Vietnam has made considerable efforts to ensure access to quality healthcare services for the entire population by upgrading its hospitals, expanding insurance coverage and increasing expenditure in healthcare, which have positively driven the country’s medical industry. ...

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This report is designed to provide an overview of the smart cities sector in Vietnam. The country is currently experiencing rapid urbanization and a shift from an agriculture economy to industry and services-driven economy. It is one of the fastest growing economies in South East Asia, and has...

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Vietnam Country Profile

The report offers a wide range of data and information collected from various sources that were built together in order to provide not just facts but deeper insights about the country. Unlike other country reports that focus more on macro-economic data, we think that the most valuable part of ...

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Vietnam is still in the developmental phase of fortifying and improving its water and wastewater systems. Strong growth potential is foreseen in the wastewater and solid waste treatment sub-sectors. Given that industrial zones, or industrial parks all over the country are gradually booming to ...

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ECONOMIC NEWS

CPTPP Takes Effect In Vietnam In January 2019

Vietnam  -  January 2019

On January 14, 2019, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) officially came into effect in Vietnam. The country's National Assembly passed a resolution approving the deal and related documents on November 12, 2018. The agreement is expected to boost Vietnam's GDP growth by USD 1.7 billion and exports by over USD 4 billion by 2035. 

The CPTPP was signed in Santiago in March 2018 by 11 countries including Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. It will create a huge free economic sector where its participants whole the keys to enter a market size of about 500 million people. Member countries account for about 13 percent of global GDP. The agreement will gradually eliminate 98%of tariffs on agricultural and industrial products, ease investment regulations and enhance protection of intellectual property. 

The Ministry of Industry and Trade in Vietnam is co-operating with the Embassy of Australia and the World Bank to build an e-commerce portal to introduce free trade agreements that Việt Nam is participating in, including CPTPP, with search tools specific for commitments and regulations in each sector and industry for each partner participating in the agreements.

(Source: Vietnam News)

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ICT

Vietnam Preparing To Launch National Digital Map

Vietnam  -  January 2019

Vietnam’s digital map on https://map.itrithuc.vn/ project, which creates a full address list and associated geocodes in a complete map is planned to be operational by February, 2019. The digital map is a part of the “Digital Vietnamese knowledge project” from Vietnam government to create a Vietnamese version of Wikipedia about different aspects of the country. 

The State-run Vietnam Post (VnPost) Corporation is in charge of aggregating map data as its experience in collecting information on a nationwide scale. By January 11th, a total of nearly 1.39 million addresses across the country had been aggregated. VnPost is also handling establishing the IT infrastructure for the project, preparing information collection and reviewing plans, before urging local business and people to provide necessary edits related to their addresses.

People’s committees have been asked to co-ordinate closely with the science and technology ministry and VnPost. Local departments of environment, transport and statistics are also aiding the information collection workers.

As the government's decision support tool and the information hub for businesses and organisations, the digital map is expected to help all Vietnamese people, especially the younger generation to develop innovative technologies. 

(Source: Vietnam News)

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ENERGY

Construction Initiated On USD 150 Million Solar Plant In Tra Vinh

Vietnam  -  January 2019

Trung Nam Tra Vinh Solar Power JSC has recently initiated construction of solar power plants, valued at VND 3.55 trillion (more than USD 150 million), in Duyen Hai Township, in Tra Vinh, a Mekong Delta province. The 171 ha plant expected to become operational in the second quarter of 2019, and it offers a designed capacity of 165 MWp. It will contribute more than 250 milion kWh of electricity to the nation grid annually.

According to the general director of Trung Nam Tra Vinh Solar Power JSC, Mr. Do Van Kien, the construction of the plant not only helps cut greenhouse gas emissions, but also generates jobs for more than 1,500 workers and contributes to development and social welfare in the region. The on-going project is firmly supported by Tra Vinh local authorities.

Experts anticipate a promising future for solar energy in Viet Nam as it has a technical potential of solar energy is estimated at 300 Gigawatts (GW). The Government has established an ambitious target to install 12GW of solar power by 2030.

(Sources: Vietnamnews)

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MEDICAL

Medical Devices Business Regulations Modified In Vietnam

Vietnam  -  January 2019

The Vietnam Ministry of Health (MOH) issued Decree No. 169/2018/ND-CP on 31 December, 2018 amending and supplementing some articles of Decree No.36 on Medical Device Management. The changes, which have taken effect on January 01, 2019, affect the below:

• Explaination of the definition of medical device;

• Classification of medical device;

• Conditions of establishments that classify, produce and trade medical device;

• Procedures for declaration, registration for circulation and importation of medical device;

• Activities of inspection and calibration of device;

• Management and use of medical device in medical facilities;

• Organization of implementation.

Decree 36 has been reported by foreign and local industry associations to cause some difficulties for business activities, including overlapping regulations and cumbersome administrative procedures, costing time and money for businesses and other stakeholders. Decree 169 aims to fix the faults and simplify business conditions for entrprises operating in the market.

(Source: Department of Medical Equipment and Construction)

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ENVIRONMENT

Vietnam, Japan Cooperating To Address Environmental Pollution

Vietnam  -  January 2019

As a result of strong economic growth in the current decade, Vietnam is facing severe environmental issues such as frequent flooding in the city caused by climate change, or solid waste treament. Taking action to reduce environmental pollution, especially poluttion in the big cities, are major challenges that the country is focusing its efforts on. 

To strengthen opperation between Vietnam and Japan in addressing and solving environmental issues in Vietnam, Vietnam-Japan Environment Week was held in January 11th, 2019. Vietnam's Deputy Minister of Natural Resources and Environment Vo Tuan Nhan expressed that Vietnam hopes to receive more active assistance from Japan and to learn more experience in solid waste management and seek suitable models.

Japanese Vice Minister of the Environment Takaaki Katsumata said Japan had experienced similar issues to Vietnam when its economy attained the rapid growth in the 1960s. Japanese government will support Vietnam in the field of environmental work through technical cooperation activities, technological transfers, and branching out technologies towards sustainable environment protection. 

Vietnam’s first waste-to-energy facility that applied advanced technology from Japan initiated operations in May 2017 in Nam Son Waste Treatment Complex, Soc Son District, Hanoi. The factory has the capacity of treating 75 tonnes of waste per day.

(Sources: Vietnam News; Nhan Dan; Vietnam Plus)

 

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INFRASTRUCTURE

70 Transportation Projects To Start In HCMC In 2019

Vietnam  -  January 2019

Ho Chi Minh City's department of Transportation has annouced its plan to start the construction of around 70 projects this year, including 45 projects for upgrading and expansion of roads, and 23 new bridges.

Some of the notable projects are 59km section of the southern intercity expressway with 10 lanes, connecting key industrial zones in Ben Luc, Nhon Trach and Long Thanh districts; a parallel road along the HCM City- Long Thanh- Dau Giay expressway; a belt ring road which will connect HCM City and Bình Dương and Long An provinces...

The authority is looking into generating more funds from the private sector for transport projects. The People's Commitee suggested Department of Transport examine the investment plan of the transport projects in the form of build and transfer (BT) instead of the current form of build-operate-transfer (BOT). The authority would be the one who organises bidding for transport projects under the new form of BT.  

(Source: Vietnam News)

 

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Paper production

MANUFACTURING

Construction On Maurbeni Paperboard Mill Kicked Off

Vietnam  -  January 2019

The Japanese group, Marubeni, has started the construction of paperboard mill plant in the North of Ba Ria Vung Tau Province in January, 2019. The project which is worth VND 4.81 trillion (USD 206 million) comprises a total area of 15ha in Phu My 3 Industrial Zone (IZ). The designed capacity is said to be at 400,000 tonnes annually. Commercial production will commence in the second half of 2020

The head of authority in the province hopes the new mill will make effective contributions to fostering  provincial socio-economic development and create more jobs for local people and local enterprises. Ba Ria Vung Tau has attracted 351 foreign-invested projects with total registered capital of  USD 27.18 billion. Japan ranked fifth among 27 nations with 31 projects, valued at USD 2.25 billion. Furthermore the production will also aid the business of packaging paper, which is forcast to grow at the rate of 15% over the next 10 years. 

(Source: Vietnam News)

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DEFENSE / AEROSPACE / AVIATION

Vietnam's Newest Airline Bamboo Airways Launches Flights

Vietnam  -  January 2019

On Jan 16, the Vietnam's Bamboo Airways completed its inaugural flight that departed from Ho Chi Minh City and arrrived at Hanoi's Noi Bai International. It joins other local players, local airlines operating are Vietnam Airlines, Jetstar Pacific Airlines, Vietjet Aviation and Vietnam Air Services.

The carrier plans to operate up to 60 domestic flights per day with 37 routes connecting major cities and tourist destinations domestically and internationally. The first domestic routes will be Hanoi to Quy Nhon, Hanoi to Dong Hoi, HCM City to Quy Nhon, Hanoi to HCM City and HCM City to Van Don. The airline intends to expand its fleet to 40 to 50 by the end of this year. 

Established in 2017 with the charter capital of VND 700 billion (USD 31.4 million) and owned by FLC property and leisure group, the airway is part of the Viet Bamboo Airlines Company based in the city of Quy Nhon in Bình Dinh Province. FLC Group has positioned Bamboo Airways as a hybrid airline, blending low-cost traits with those of traditional or full-service carriers.

Being one of the fastest economic growth countries in Asia, Vietnam has recorded double-digit expansion in domestic and inbound passenger numbers. The government encourages tourism with visa exemptions and by promoting investment in the industry.

(Sources: Channel NewAsia; Vietnam News)

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RETAIL / FMCG

Beauty and Healthcare Giant Watsons Enters Vietnam

Vietnam  -  January 2019

The leading health and beauty retail brand in Asia and Eastern Europe, Watsons has launched its first fladship store inVietNam on Jan 17, 2019. The store is strategically placed in the lower level of Bitexco financial tower in District 1, HCM City, offering 6,000 products in beauty and health care. Vietnam is the 13th market to join Watson's network of over 7,200 stores across Asia and Europe.

On the launching date, Watson also annouced its plan for 50 more shops within 5 years to keep up with the two country's biggest players: Guardian, founded in Singapore, and local player Medicare. Vietnam's beauty products market has grown at a compound annual rate of 30% over the past few years, with foreign brands making up more than 90% of sales. Watson is expected to face a fierce competition as these players has been well established in the market. Moreover, there are many smaller cosmetics chains or individual stores sell imported products from South Korea, Japan, France and the U.S. in addition to a bustling online trade in health and beauty products on e-commerce platforms, such as Lazada, Sendo and Tiki. 

Vietnamese spent an estimated USD 6 billion on imported cosmetics and beauty products in 2018, a threefold increase over 2016.

(Sources: Inside Retailer Asia: Nikkei Asian Review)

 

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Customized Agent/ Distributor/Reseller Search

Having completed over 1000 customized agent/distributor/reseller searches for our clients over the years, this is one of the most popular trade services that we offer to potential clients. Typic...

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Sourcing Services

There is a growing interest in sourcing for products from South East Asia for strategic and competitive reasons. Companies from around the world are looking for suppliers in Malaysia, Thailand, ...

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Business Incorporation/ Site Selection

We counsel businesses on where to locate their office and industrial operations and what the optimal business structure should be to meet local government and tax requirements. Some of the quest...

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Market Research

To successfully export your products or services, you need to learn about your customers, your competitors and your industry. Our market research process starts off with brainstorming effective ...

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2   trade show support

Trade Show Support

Many companies participate in trade shows hoping to find customers or local agents or distributors. However, they come away from these events with less than desired results. But with our trade s...

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Additional Services

Based on past experience in helping companies that are looking to grow their exports to one or more markets in South East Asia, we have found that some of these additional services that we offer...

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Economic Development Agencies & Trade Associations

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Trade Mission Organization

Visiting a market to meet with prospective customers or partners is essential as business is built on developing personal connections and understanding the local culture. Traveling ...

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Trade Show Support

Trade shows can be an excellent option for companies and trade organizations to make key business and industry connections overseas. But to maximize the benefit of participating in ...

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Trade Representation

With over 20 years of experience providing dedicated representation in South East Asia to economic development organizations (EDOs) from North America and Europe, we offer EDOs the ...

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Market Research

Our strong track record in performing a targeted analysis of specific industry sectors in multiple markets has helped many economic development organizations (EDOs) to develop strat...

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Investment Attraction

Attracting investment from overseas can mean new or retained jobs in your area. Our investment attraction support services will position your economic development organization (EDO)...

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Having worked with government agencies and trade associations for over 20 years, we also provide a range of additional services customized to the requirements of these organizations...

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Crown Hardwood Co., Inc.

USA
Furniture & Wood
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
US Hardwood Logs: Cherry, Hickory, Hard Maple, Poplar, Wa...
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Visual Software Inc.

USA
Education; Medical; Others
Philippines, Singapore, Indonesia, Malaysia, Thailand, Vietnam
We create, market and support products that allow various...
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Firefly Pan-Asia Trading Pte Ltd

Singapore
Consumer Goods; Medical
Indonesia, Malaysia, Philippines, Thailand, Vietnam
Viviscal® Professional supplement is only available exclu...
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Universal Food Products

Australia
Food & Beverage
Philippines, Malaysia, Vietnam
Nuvia products are free of sugar, artificial ingredients,...
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eSentire

Canada
Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
eSentire delivers Managed Detection and Response (MDR) wh...
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Leonovus Inc.

Canada
Others
Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam
Leonovus is the cloud solutions software developer of a b...
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