Vietnam has emerged as one of Asia’s great success stories, backed by stable political system, commitment to sustainable growth, relatively low inflation, strong FDI inflows, youthful and digital population, and strong manufacturing sector. In addition, the country has a large domestic market and a growing middle class. These dynamic factors have created an extraordinary opportunity for international investors to take advantage of the regional growth prospective and focus their attention on Vietnam, particularly in the manufacturing sector.
In 2022, Vietnam has become an economic standout in Southeast Asia and ended the year with a GDP growth rate of 8%. The Gross Domestic Product in the second quarter of 2023 grew 4.14% from a year earlier, faster than the 3.28% expansion in the first quarter, according to the General Statistics Office.
These economic achievements make the country one of the few economies globally to grow amidst turbulent times.
This publication will help entrants understand the opportunities and challenges of this industry in the Vietnam market, and sketch out a picture of the investment environment and market entry requirements and conditions for specific manufacturing activities. Download our Vietnam Manufacturing Brief in 2023 for specifics.