Vietnam, shaped like the letter “S”, bordered by China to the north, Laos and Cambodia to the west, and the East Sea and Pacific Ocean to the east and south. With mountains and hills covering three-quarters of its land and a coastline over 3,000 kilometers long, Vietnam's diverse geography profoundly influences its natural beauty, culture, and economy
38.1%
Urban population (2023)
61.9%
Rural population (2023)
49.9%
Male (2023)
50.1%
Female (2023)
13%
Baby boomer (2021)
20%
Gen X (2021)
27%
Gen Y (2021)
24%
Gen Z (2021)
68.9%
Participation rate (2023)
97.9%
Employment rate (2023)
36%
Labour force at MSMEs (2021)
10.80%
High-skilled labour ratio (2017)
US$ 293
Monthly average income (2023)
13.8%
Attrition rate (2023)
40.4%
Employment in Agriculture (2022)
30.6%
Employment in Industry (2022)
35.8%
Employment in Services (2022)
Economic profile
The 35th largest economy of the world
US$ 433.7B
GDP (2023)
US$ 4,320
GDP per capita (2023)
US$ 30B
Digital economy GMV (2023)
US$ 15.7B
ICT market size (2023)
97%
Percentage of SMEs (2023)
US$ 529M
Total capital invested in startups (2023)
A rising economy in Southeast Asia
FDI inflows
Vietnam attracted nearly US$ 36.61 billion dollars in foreign direct investment in 2023
Export turnovers
Exports of Vietnam reached US$ 354.7 billion in 2023
Newly-established businesses
In 2023, 159,294 new businesses were established in Vietnam
US$ 36.6B
FDI Inflow (2023)
Leading FDI sectors
Manufacturing and processing
64.2%
Real estate
12.7%
Electricity, gas, steam and air conditioning supply
6.5%
Financial, banking & insurance
4.3%
Science and technology
3.5%
US$ 354.7B
Export turnovers (2023)
Leading export sectors
Electronic goods, computers and their parts
16.2%
Phones all of kinds and their parts
15%
Machinery, instrument, accessory
12.2%
Textiles and garments
9.4%
Footwear
5.7%
159,294
Number of newly-established businesses (2023)
Top economic activities
Wholesale and retail trade, repair of vehicles
39%
Manufacturing and processing
11.8%
Construction
10.8%
Professional Activities (Technology; Consulting, Design; Advertising,...)
8%
Support Services (Employment Services; Tourism; Rental,...)
5.9%
By region
Southeast
42.7%
Red River Delta
31%
North Central Coast and Central Coast
11.7%
Mekong Delta
7.1%
Northern Midlands and Mountains
4.9%
Central Highlands
2.5%
Doing business in Vietnam
Opportunities & challenges
Opportunities
• Low cost to set up a business: around US$ 20,000
• Strong tourism, agriculture, and manufacturing sectors
• Stable political system
• Fast growing economy
• Large workforce and low labour costs
Looking to expand in Vietnam?
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