Earlier in its development process than many countries, Vietnam is learning from other countries’ reform experiences and utilizing its late mover advantage in technology introduction. As labor costs rise elsewhere, many investors look to Vietnam, where labor costs are, for example, estimated to be 50 percent lower than China.
With a reasonably steady 7 percent GDP growth per year average over the last decade, Vietnam is nimble as it continues to shape its market-oriented socialist economy and major foreign investors continue to prioritize their investments into the country. Coca-Cola, for example, has said that it plans to invest US$200 million in Vietnam by 2013, adding onto its US$280 million investment over the past ten years. Many SMEs are following in step, acting on the business potential that Vietnam holds for companies of all sizes and a variety of industries.
This book aims to assist foreign investors in understanding the business environment of the country, including reasons to invest and challenges for which to prepare. We will help you navigate the legal investment framework and understand the relevant regions for your investment purposes so that your company can take its first steps towards handsome returns.
With content available through few other English sources, Doing Business in Vietnam is an accessible and engaging compilation of the practical information you need for doing business in the region.