Market Profile

Liberalisation, market opening and social policies have led to significant economic growth, development progress and poverty reduction in Vietnam. Since 1990, the economy has grown an average six per cent per annum, second only to China (Source: World Bank, GDP growth, 2016). Gross domestic product (GDP) per capita was over US$2,111 in 2015 (Source: World Bank, GDP per capita, 2016). This makes Vietnam the fastest growing middle class in the Southeast Asian region, which is expected to rise from 12 million in 2012 to 33 million in 2020. 

More information on doing business in Vietnam

Why ASEAN and why now?

Why ASEAN and why now? Insights for Australian Business. A joint Austrade-DFAT publication examining Australia’s trade relationship with the Association of Southeast Asian Nations (ASEAN), the opportunities and challenges for Australian business engaging with the region and the future of the Australia-ASEAN trade relationship.

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Vietnam's market insights and opportunities

Facts

  • Imports from Vietnam A$5,329 million
  • Exports to Vietnam A$4,819 million
  • Capital Hanoi
  • Official Language Vietnamese
  • Area 310,070 sq km
  • Population 91.7 million

Country information provided by DFAT

Country brief

A comprehensive overview of political, economic and bilateral and regional trade agreements.

» read more at DFAT

Trade and economic fact sheet

Containing general information, recent economic indicators, Australia’s trade and investment relationship with Vietnam and their global merchandise trade relationship that is updated twice a year.

» read more at DFAT

 

Australia's trade at a glance – Australia's top ten trading partners

Free Trade Agreements

Information on Trade Agreements in force and in negotiation, plus market videos detailing insights and opportunities.

» read more at DFAT

Business risks

Bribery of Foreign Officials

Extractive Industries Transparency Initiative

The Extractive Industries Transparency Initiative (EITI) is a voluntary mechanism which promotes and supports improved governance in resource-rich countries through the full publication and verification of company payments and government revenues from oil, gas, and mining.

The EITI is supported by governments, industry, and non-government organisations around the world. The Australian Government supports the EITI and encourages Australian companies operating internationally to comply with its recommendations.

OECD Guidelines for Multinational Enterprises

Multinational Enterprises should be aware of the OECD Guidelines for Multinational Enterprises that provide voluntary principles and standards for responsible business behaviour in a variety of areas, consistent with applicable domestic laws. These Guidelines are endorsed and promoted by the Australian Government.

APEC Business Travel Card Scheme

Managed by the Department of Immigration, the APEC Business Travel Card Scheme was developed to make travelling within the 21 APEC member countries much simpler and more efficient.

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Austrade provides information, advice and range of trade services to assist Australian businesses reduce the time, cost and risk associated with exporting.

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