A recent study by the Financial Times issued statement on the positive psychology of Vietnamese consumers to the economy, thereby boosting consumer spending and encourage foreign investors to invest in Vietnam.
According to the study, Vietnamese consumers still spend heavily on shopping thanks to the dynamic economy, which increases household incomes.
This trend is expected to continue, in the context of Vietnam consumer psychology about the economy is in the highest optimism status in the past three years.
The study also expects that Vietnam’s economy will maintain the highest growth rate among key regional economies.
In 2017, Vietnam’s economy grew by 6.8% and is expected to grow higher this year.
Through a survey with 5,000 consumers in Thailand, Indonesia, Malaysia, Philippines and Vietnam, the study evaluated Vietnamese young people are the most optimistic in this group about their economic prospects.
Vietnam is also becoming a destination for foreign investment.
Since 2009, Samsung from Korea has invested in Vietnam 17 billion USD. Last year, nearly half of smartphones sold to the world came from factories in Vietnam.
Nevertheless, the Financial Times study also identified the challenges faced by the Vietnamese government to maintain economic growth, in the context of rising public debt and tight budgets.
2018 is also the year Vietnam will gradually fulfill the commitments of 16 free trade agreements, in which a series of tariff will fall to 0%, affecting the budget revenue.
Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.