Why Set Up Your Business in Vietnam?
Economies around the world have taken a huge leap forward and have made it pretty easy to start businesses in different countries. The procedures have become fairly faster and simple with the introduction of new technologies and lowering of the minimum capital requirements for initiating a business. You now don’t have to worry about too many things and can set up your business in Vietnam in an entirely foreign country owing to flexible policies.
Widely known for its bustling cities, rivers, Buddhist pagodas and beaches, Vietnam is a small country located in South East Asia. When choosing a country to set up your business in, there are a number of factors that need to be considered. From the economy, location, policies to the industrial and economical climate, taking care of all the aspects of the new country is very important. Let us take a look at the same factors for Vietnam and see how feasible it is to set up a business in the country.
Business Environment
Vietnam is considered to be country which is socially and politically stable. There are seldom any religious or racial issues and conflicts as compared to other counties in the ASEAN. The country has also achieved a high GDP and thanks to the renovation policies in the country, the macro-economic and political environment is relatively stable in Vietnam. There have been many renewal policies in the Vietnam that favor businesses and offer great support to them. Vietnam is, therefore, good option to set up your business.
Emerging Market
Vietnam is a promising market. It is a great place for setting up a business for high tech products and services. The GDP of the country has reached over $102 billion and the import rate is also growing rapidly. Since it is an emerging market, the opportunities for all kinds of businesses to set up here are great too. The government offers a lot of support to the foreign businesses who plan to set their business here in Vietnam. The country has a free economy and the policies also tend to favor businesses a lot.
Human Resources
One of the countries with the highest population density and population in the world, Vietnam is a great country when it comes to finding the right workforce. You will find high potential labor and people from all disciplines who will be more than ready to work for your business. The people of Vietnam know English and communication will not be a problem. With a literacy rate of over 90%, the people of Vietnam are one of the most educated people in the world. Also, the people of the country are very warm and welcoming. You will not face much issues settling down in the country.
If you are looking for a new country to set up your business in, you should have Vietnam in the list. Offering highly educated workforce, business friendly policies, and a stable political, social, and economic environment, Vietnam can turn out to be a great choice for setting up your business.
These are enough reasons for you to consider setting up business in Vietnam. For further information and guidance regarding the procedures, send an email to infor@aic-vietnam.com or visit AIC VIETNAM’s Website.
