Market Profile
Vietnam, with the increasingly deregulated business environment, ambitious
reform, has experienced a robust growth with average GDP growth of 6 per
cent in the last 20 years (World Bank, GDP growth, 2016). GDP is forcast to be 6.3 per cent in 2017.
Foreign Direct Investment (FDI) to the Vietnam reached US$24.4 billion in
2016.
“Vietnam continued to surprise the region and the world by the depth
and pace of economic integration and regulatory reforms, which led to a
significant improvement in the investment environment.” (Doing business
in Vietnam, PwC, 2017).
Vietnam’s fundamental growth drivers include domestic demand as a result of a fast growing middle class, the golden population structure with a median age of 30, a highly educated and digital-savvy generation, as well as an export-oriented manufacturing focus.
“Vietnam’s dynamic environment, reflected in a young population,
growing wealth, changing consumer attitudes, greater mobility and
urbanization – are pushing the country through a period of great
change.”
More information on doing business in Vietnam
ASEAN NOW – Insights for Australian Business
A digital report on Australia’s trade and investment relationship with ASEAN.
Key sections:
- Why ASEAN matters to Australia
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- Case studies.