Security and polictical environment
In a region of the world where some countries remain vulnerable to political and economic instability, Vietnam has benefited from its stable government and social structure, making it an ideal place for capital investment.
Strategic geographic location
Located in the cradle of Southeast Asia, Vietnam’s advantageous geographic location can serve as a launch pad and home base for what is already the largest collection of people on earth (the combined populations of ASEAN along with China, Japan, South Korea and Chinese Taipei account for over 2 billion people).
High economic growth
Vietnam remains one of the fastest-growing Asian economies with high GDP growth in recent years, based on the power of FDI & the private sector.
Young and energetic population
Vietnam has a population of 87.84 million people (13th largest in the world) expected to grow to 100 million in 2020 with an annual growth rate of 1.2%.
Over 50% of the population is 25 years or younger. Possessing, highly skilled, young workers with an extraordinary work ethic and literacy rate of more than 90%, the Vietnamese are equipped with a high level of education and are prepared to serve in high skilled industries like information technology, pharmaceuticals and financial services, at a more competitive cost than other countries in the region.
Abundant resources
Since it began offshore oil exploration in the 1970s, Vietnam has become a net exporter of crude oil, while gas and petroleum reserves, coal reserves, and the harnessing of hydropower electricity provide other readily available sources of power. Minerals located in Vietnam include iron ore, tin, copper, lead, zinc, nickel, manganese, marble, titanium, tungsten, bauxite, graphite, mica, silica sand, and limestone. In addition, Vietnam has played a significant role in the exportation of agricultural products to the world markets as the world’s largest exporter of pepper, second largest exporter of coffee and rice, and third largest exporter of cashews, among other products.
Significant improved legal environment
Before joining WTO, Vietnam revamped much of its legal system, making revisions of major legal frameworks, specifically Labour Code, Land Law, Civil Code, Law on Securities, Law on Competition, Enterprise Law and Investment Law, in order to make the investment environment more transparent. As a matter of fact, WTO accession with the challenges associating with MNC’s market entries has helped to revolve Vietnam’s legal environment to be more transparent and more conform to international standards in all aspects.
Active global integration
Before joining to WTO Vietnam had demonstrated continued efforts in achieving high GDP growth, liberalizing its market and transforming its regulatory environment. Vietnam officially became the member of ASEAN and joining the ASEAN Free Trade Area AFTA and officially became the WTO’s 150th member of WTO on 11th January 2007.
