Business opportunities in
Vietnam
Vietnam is one of the fastest and most promising economies in the ASEAN. It has wide market with established favorable business climate that provide a lot of opportunities not only for domestic enterprises, but for foreign investors as well. The country’s GDP is steadily growing; according to Vietnamese experts its growth is expected to reach 6 – 6, 5% by the end of 2022. Read on to learn what business opportunities are offered by Vietnamese market and how can you use them.
The most promising E-commerce in Southeast Asia
Here are some statistics to prove it:
Smartphone penetration in the country is around 63%. This fact is closely connected with an increase in online purchases. Today, more than 61 million of Vietnamese are active smartphone users.
Here are some statistics to prove it:
Smartphone penetration in the country is around 63%. This fact is closely connected with an increase in online purchases. Today, more than 61 million of Vietnamese are active smartphone users.
- The forecasts claim that 70.1% (71 million) of Vietnamese will shop online by 2025. It is nearly 17% more than present numbers (53%).
- It is expected that annual growth rate of Vietnamese e-commerce market will equal 6-7% until 2025. According to a research conducted by Facebook and Bain & Company, Vietnam will be the fastest-growing e-commerce industry in Southeast Asia by 2026. It is also expected that its e-commerce Gross Merchandise Value (GMV) will be around 56 billion USD, which is 4.5 times more than it was in 2021. So it is considered as extremely perspective and promising area for business development.
Growing Food & Beverage industry
Business Monitor International Ltd. published report, according to which Vietnam was estimated as one of the world’s most attractive food & beverage markets in 2019 and was ranked 10th in Asia. Total income from food and beverage goods in 2020 reached more than USD 42 million (growth rate – 3.8%), which makes up 15.8% of Vietnam GDP. Moreover, Mordor Intelligence predicts that food & beverage industry in the country will grow by 8.65% annually during the period of 2021-2026.
Upgrading in logistics and warehousing
Vietnam took 8th place in the worldwide ranking of developing logistics markets in 2021. Development and usage of Artificial Intelligence allow establishing route optimization and prediction of supply chain breakdowns. Warehouses are expanding in size and accepting a wider variety of products. During the last years Vietnam formed well-organized distribution system through the penetration and use of advanced technologies.
Business Monitor International Ltd. published report, according to which Vietnam was estimated as one of the world’s most attractive food & beverage markets in 2019 and was ranked 10th in Asia. Total income from food and beverage goods in 2020 reached more than USD 42 million (growth rate – 3.8%), which makes up 15.8% of Vietnam GDP. Moreover, Mordor Intelligence predicts that food & beverage industry in the country will grow by 8.65% annually during the period of 2021-2026.
Upgrading in logistics and warehousing
Vietnam took 8th place in the worldwide ranking of developing logistics markets in 2021. Development and usage of Artificial Intelligence allow establishing route optimization and prediction of supply chain breakdowns. Warehouses are expanding in size and accepting a wider variety of products. During the last years Vietnam formed well-organized distribution system through the penetration and use of advanced technologies.
Vietnam is making headway toward Industry 4.0
Vietnam (simultaneously with such Southeast Asian countries as Indonesia and Thailand) is making attempts to build Industry 4.0 in the country. Vietnamese government together with local authorities are developing an Industry 4.0 strategy based on the massive introduction of information technology in industry, large-scale automation of business processes, and the spread of Artificial Intelligence. It is supposed to make the market develop much faster and be more attractive for foreign investors.
As you can see, there are significant opportunities in starting business in Vietnam. Awesome Products Co. can help connect western brands and Vietnamese consumers. We provide all services to enter new market and grow your business in one of the most promising markets in Southeast Asia.
Follow us to learn more about our services and extend your business with us!
Vietnam (simultaneously with such Southeast Asian countries as Indonesia and Thailand) is making attempts to build Industry 4.0 in the country. Vietnamese government together with local authorities are developing an Industry 4.0 strategy based on the massive introduction of information technology in industry, large-scale automation of business processes, and the spread of Artificial Intelligence. It is supposed to make the market develop much faster and be more attractive for foreign investors.
As you can see, there are significant opportunities in starting business in Vietnam. Awesome Products Co. can help connect western brands and Vietnamese consumers. We provide all services to enter new market and grow your business in one of the most promising markets in Southeast Asia.
Follow us to learn more about our services and extend your business with us!
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