Conducting a business in Vietnam has advantages and disadvantages

Topics: Economic development, Economic growth, Economics Pages: 2 (331 words) Published: April 11, 2015
Conducting a business in Vietnam has advantages and disadvantages. The advantages:
1. Continued strong economic growth, ongoing reform and a large population of 92.5 million—half of which are under the age of thirty—have combined to create a dynamic and quickly evolving commercial environment in Vietnam. 2. Telecommunications, information technology, oil and gas exploration, power generation, transportation infrastructure construction, environmental project management and technology, aviation and education will continue to offer the most promising opportunities for U.S. companies over the next few years as infrastructure needs continue to expand with Vietnam’s pursuit of rapid economic development. The disadvantages:

1. The evolving nature of regulatory regimes and commercial law in Vietnam, combined with overlapping jurisdiction among Government ministries, often result in a lack of transparency, uniformity and consistency in Government policies and decisions on commercial projects. 2. Tied” official development assistance, in addition to corruption, continues to be a significant challenge for U.S. firms bidding on infrastructure projects. 3. Investors often find poorly developed infrastructure, high start-up costs, arcane land acquisition and transfer regulations and procedures, and a shortage of skilled personnel.

http://export.gov/vietnam/build/groups/public/@eg_vn/documents/webcontent/eg_vn_063160.pdf

Industries :
food processing, cigarettes and tobacco, textiles, chemicals, and electrical goods Improvement of experiment capacity of Power Transmission Companies In the next decade:
Vietnam Industrialisation Strategy within the Framework of the Vietnam – Japan Co-operation Agreement towards 2020, with a vision towards 2030’. The six key industries include 1. Electronics
2. Agricultural machinery
3. agricultural and seafood processing
4. Ship building
5. The environment and energy saving
6. The manufacture of automobiles and spare parts....
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