Vietnam is ready for international commerce.
Did you know that Vietnam is the second largest export of coffee in the world? Aside from the instagrammable, bustling cities of Ho Chih Mhin and Hanoi, Vietnam offers market entrants a stable social and political environment, competitive costs and an abundant workforce with a population expected to reach 99.70 million by the end of 2022.
As one of the key pillars contributing to a market's economic growth, infrastructure development is critical. The government in Vietnam recognises this importance, and are prioritising the development of infrastructure and transport to keep up with the fast-growing economy quickly.
Vietnam has a large purchasing power by being the world's 15th largest population. Businesses can seize limitless opportunities by selling to this massive market. Vietnam also has a growing middle class that is willing to spend money on economic development.
Starting a business in Vietnam is new and easier than in other countries. As a result, investors do not face stiff competition when attempting to implement innovative or risky business ideas.
Vietnam's large, well-educated, and relatively cheap labor force has become one of the country's most valuable assets. Vietnam's literacy rates are above 90 percent and one of Southeast Asia’s highest internet penetration rates.
Revenue in the eCommerce market is projected to reach US$14.81B in 2022.
Source: Statistica, Vietnam eCommerce
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