Vietnam Growth Story

Just 34 years ago, Vietnam was one of the poorest nations in the world and suffered a lot during the 20 yearlong war, which ended in 1975. By 1980s, the per capita GDP was $ 200-300 and country’s GDP was around USD 19 billion. The communist party of Vietnam had introduced an economic reform “Đổi Mới” (Renew/Renovation) in 1986 with the objective to create a Socialist oriented market economy and since then the country has never looked back. Vietnam’s burgeoning economy has a plethora of complelling opportunities for the companies to set up base in this South East Asia nation.

Vietnam is one of the fastest growing economy in Asia and 15th most populous country is the world. There are plenty of opportunities in various sectors and the most booming sectors are education, healthcare, Information technology and manufacturing. Vietnam attracted FDI of USD 38 billion in 2019 and poised to receive more in coming years. South Korea is the top investor in Vietnam followed by Hong Kong and Singapore. Ho Chi Minh city is the commercial capital of Vietnam and most of the world's top brands have presence here and more in offing. Approx. 70% population is under 35 making it one of the youngest country in the region.