14 Dec 2016
Doing Business in Vietnam
Starting from a low economic base in the early 1990s, Vietnam’s move to a more market oriented economy from a centrally planned one brought rapid growth which, like elsewhere, slowed during the global financial crisis.
Whilst Vietnam’s macro-economic troubles took some shine off its appeal, broad based growth, low wages and a strong economic outlook continue to make it an attractive place for investment and a favourite solution to rising manufacturing costs elsewhere.
Vietnam’s dynamic environment, reflected in a young population, growing wealth, changing consumer attitudes, greater mobility and urbanisation – are pushing the country through a period of great change.
For many, the benefits of locating key parts of the supply chain in Vietnam are compelling but market forces such as a rising middle class and the further opening up the economy also bring access to exciting new sectors and opportunities outside of manufacturing.
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