Vietnam at a glance

GENERAL INFORMATION

YOUNG & HUGE
LABOUR FORCE

100 million
  • 15th World Population Rank
  • 68.5% Labor Force Participation
  • 32 Median Age

ROBUST
ECONOMIC
GROWTH

8.02% GDP growth in 2022
  • 3.2% CPI
  • 10.6% Export Turnover
  • 13.5% FDI
  • ±5% USD/VND fluctuation rate in the last 5 year

FREE TRADE
AGREEMENT

16+

ASEAN+5, Japan, South Korea, China, India, EU, UK, Australia, Trans-Pacific, Israel

CORPORATE
INCOME TAX

0% 2 years
10% 4 years

Standard rate 20%

Incentives available in most industrial parks

COST
SAVINGS

USD326/month
VND1,685/kWh

Average gross monthly
salary

Electricity Cost

STABLE POLITICAL
ENVIRONMENT

One-Party Government

KEY INFRASTRUCTURE DEVELOPMENT

North

 

Northern Vietnam boast a
highly developed
national
highway infrastructure
This extensive network of highways significantly enhances connectivity between Hanoi, the capital and central hub of the region, and pivotal industrial provinces such as Hai Phong, Bac Ninh, Hai Duong, and Quang Ninh. In conjunction with the well- established highway system, maritime transport plays a pivotal role in the region. The three primary ports in the North, namely Lach Huyen, Hai Phong, and Cai Lan, play a crucial role in facilitating efficient import and export activities. These ports serve as vital gateways, connecting the region to global markets and playing a signigiciant role in supporting economic growth.

South

In southern Vietnam, Binh Duong, Dong Nai, Ba Ria Vung Tau and Long An stand out as ideal destinations for production due to their well- developed infrastructure.

 

 

These provinces offer favourable conditions for businesses to engage in production and trade, particularly with Ho Chi Minh City, the largest economic and consumption hub in the country.

 

 

Furthermore, the southern region is home to several major seaports. Cat Lai Port, situated in Ho Chi Minh City, is one of the biggest and most modern container ports in Vietnam. Hiep Phuoc Port, also located in Ho Chi Minh City, specializes in container cargo. Cai Mep-Thi Vai Deep-water Port, located in Ba Ria- Vung Tau province, accommodates large container vessels, and serves as a gateway for international trade. Long An Port, positioned in Long An province, facilitates the transportation of diverse cargo types. Dong Nai Port, strategically situated on the Dong Nai River, provides convenient access to Ho Chi Minh City and neighbouring provinces.

Overview of manufacturing in Vietnam

Northern Key Economic Zone (NKEZ)

Ha Noi | Hai Phong | Bac Ninh | Hai Duong | Hung Yen | Vinh Phuc | Quang Ninh

Proximity to neighboring operations and low labor costs make the NKEZ ideal for manufacturers in search of new opportunities in the region.
  • Electronics
  • Automotive
  • Hi-tech
    manufacturing
  • Machinery &
    equipment

Central Key Economic Zone (CKEZ)

Nghe An | Thua Thien – Hue | Da Nang | Quang Nam | Quang Ngai | Binh Dinh

Key industries focus on light industry projects.
  • Food
    processing
  • Building
    materials
  • Textile &
    apparel
  • Paper &
    forest-products

Southern Key Economic Zone (SKEZ)

Ho Chi Minh City | Binh Duong |
Dong Nai | Long An | Ba Ria - Vung Tau | Binh Phuoc | Tay Ninh | Tien Giang

Represent the core of the country’s industrial market and traditional sectors, including rubber, plastics, textiles and apparel. As the region’s economy is more diversified, SMEs prefer to invest here.
  • Textile &
    apparel
  • Rubber &
    plastics
  • Machinery &
    equipment
  • Fabricated
    metal products

Container ports in North, Central & South

45 seaportswith a total capacity of over 550 million tons per year
The major
ports include
  • Hai Phong
  • Da Nang
  • Quy Nhon
  • Ho Chi Minh City

However, Vietnam has a number of smaller ports as well, which takes the total number up to 251