Opportunities in Vietnam – APPLY NOW!

Vietnam’s membership of the Trans-Pacific Partnership free-trade agreement adds to its attractiveness as an ASEAN production hub. Its economy is growing at 6.5% with GDP per capita of USD 2,052 and annual inflation at 5.5%.

With a population of 90.6 million, Vietnam is Thailand’s 7th-largest trading partner. Its currency is the Dong.

Bangkok Bank

We started full commercial banking operations in Vietnam in 1992 – the first foreign bank to do so after the end of the Vietnam War – and today have two branches in the country, in Ho Chi Minh City and Hanoi. We pride ourselves on offering ‘one-stop financial services’ for Thais investing in Vietnam.

Opportunities

Vietnam’s population of approximately 90 million is the 3rd-largest in the AEC, and its consumer market is growing rapidly as incomes rise. Middle-income earners currently number 7-8 million but this figure is expected to reach 20-30 million within the next 5-6 years. The potential is especially high for businesses aimed at younger consumers since more than 60% of Vietnamese are under 30.

Sectors with the greatest potential include garment manufacturing, retail and distribution.

Challenges

Competition is intense in Vietnam and it can be difficult for new entrants to become established.

Vietnam’s regulations change very quickly so businesses need to be nimble. Skilled workers can demand relatively high wages and are in short supply, while good middle-managers are hard to find.

Tips for investing and doing business

There are no shortcuts in Vietnam and success takes time, so investors need to be prepared to properly manage risks in the initial stages.

Forming joint ventures with Vietnamese partners do not always ensure success, so often it’s better to do it yourself, getting hands-on experience and working directly with customers.

People in the north think differently from people in the south, and making the right kinds of connections is crucial.

To find out more about these exciting opportunities, please contact:

Mr. Tharabodee Serng-Adichaiwit, General Manager - Vietnam Branch, Branch Manager - Ho Chi Minh City Branch

Tel: (84) 28 3821 4396-8

E-mail: bblhcm@bangkokbank.com

Note: Information up-to-date as of October 2017