WHY VIETNAM?

WHY VIETNAM?

Vietnam has proved to be the fastest and most promising growing economy in the whole South East Asian region over the last twenty-five years.

Despite being governed by a communist party, which might scary some foreign investors, from 1986 on Vietnam has developed a significant number of open-trade reforms, boosting the export sector and generating a flourishing ground of private enterprises.

From the late ’80s until the late 2000s, average GDP growth had settled at abt. 7-8 % for each year.

Still, after the 2008 crisis and last years’ world economy reduction, Vietnam could hold a growth of above 5% per year.

Vietnam is one of the World’s most opened economies, where two-way trade accounts for more than 165% of GDP, the double than China and fourth times India.

Main trade partners countries are both from the Asia/Pacific region (China, Taiwan, Japan, Korea, Singapore, Thailand, Malaysia) as well as the USA, Germany and Australia.

Vietnam is member of WTO since 2007 and member of ASEAN since 1995.

AGRICULTURE

Although witnessing a relevant increase in the industrial production, Vietnamese agricultural products still accounts for a relevant 20% of the country’s GDP, with most of its production being exported.

Vietnam is today:

World’s #1 exporter of Robusta Coffee Beans

World’s #3 exporter of Coffee Beans, exporting over 1.2 million tons /y

World’s #1 exporter of Pepper, with over 120,000 tons /y

World’s #2 exporter of Rice, with abt. 7 million tons /y

World’s #5 producer of Natural Rubber, with over 700,000 tons /y

World’s #5 exporter of Frozen Fish, with over 5 billion USD of export /y

Agriculture still is the biggest sector in term of population, with almost 70% inhabitants still residing in rural areas.

The Mekong Delta sub-region (where Rice and Coconut are produced) is the first Area in the World for percentage of land used for permanent crops, standing at abt. 7% of total land area.

DATA

Vietnam is the 56th country in the World for national GDP.

The production of crude oil is abt. 400,000 barrels per day.

Literacy rate is above 90% and school enrollment is one of the highest in the World,

while life expectancy is 75 year, which stands above South East Asia / Pacific average.

Urban population is abt. 32% having increased by 100% in the last 10 years,

while poverty rate is 14%, decreased by 50% over the same period.

Data about the exported goods by sector can be found here: 
http://www.gso.gov.vn/default_en.aspx?tabid=472&idmid=3&ItemID=13213.