Vietnam has become a production center for large projects and billions of dollars contracts to produce high value products, along with many commitments from Vietnam Government have inspired the business community to set up company in Vietnam.
According to representative of HSBC Vietnam, in the context of the world economy with a lot of political instability, Vietnam is emerging as a bright spot in the region with the advantage of competitive labor prices, stable political and macroeconomic. Many foreign investors have confirmed that they considered Vietnam as their only investment destination in the region and that they are still expecting to expand their investment in Vietnam.
Looking at Vietnam now is a country with rapid development plus the Government’s fierce policies and the waves of FDI into Vietnam have created great opportunities for both Vietnamese and foreign businesses.
A country can only develop sustainably when domestic enterprises also develop strongly and sustainably. In order to be able to develop and survive in the future, Vietnamese enterprises truly need to reform, improve their competitiveness, invest in technology for sustainable development, improve their management skills apply science and technology, actively participate in the supply chain of FDI enterprises. These are the problems if Vietnamese enterprises want to develop sustainably.
Finally, Vietnam has huge advantages compared with other countries in the region, based on low cost labor and the strong wave of FDI into Vietnam. This is the “golden opportunity” of Vietnam to be able to carry out reforms of the country. Investors are very hopeful that the Government will continue to reform to make Vietnam become a new tiger of Asia.
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.