The easternmost country in southeast Asia, Vietnam is the world’s 35th largest economy by PPP. Vietnam benefits from its proximity to China, and the country is fast becoming a key regional trading hub. Home to 95.5 million people, Vietnam is the world’s 15th most populous country.
The Vietnamese economy has undergone extensive expansion since 2000. Vietnam’s success has been driven chiefly by high FDI rates, and the country’s development strategy is based on the diversification of its economy. Vietnam offers investors a welcoming business environment, and a skilled, inexpensive workforce.
Services account for around 44% of national GDP. Vietnam’s beautiful landscape and sunny climate make it an ideal tourist destination, and the country receives around 7 million visitors annually. Foreign investment is particularly sought after in the high-end tourist industry, and in hotel development.
Until the late 2000s, oil was Vietnam’s primary export. Vietnam’s refining capacity is limited to a single refinery in Ho Chi Minh City, and so the country output is largely limited to crude oil. In recent years, a large number of Chinese factories have relocated to Vietnam, and high-tech electrical equipment has overtaken oil to become the country’s primary export product.
Our HLB offices are among the largest Vietnamese legal organisations operating in auditing, accounting, financial and tax consultancy and business evaluation.
Latest insights, case studies and news from across the network
Brexit: What the UK-EU trade and cooperation agreement means for businesses
After nine months of negotiations, the UK and the EU have reached the UK-EU Trade and Co-operation Agreement. So what does the new relationship with the UK’s biggest trading partner...
COVID-19 – A catalyst for a new model of global collaboration
HLB CEO Marco Donzelli shares his thoughts on global collaboration and trade, in light of COVID-19 as a catalyst for change and the key findings from HLB’s Survey of Business...
Achieving the post-pandemic vision: leaner, greener and keener
HLB’s Survey of Business Leaders aims to inform and stimulate the debate on the actions business are taking in 2021 to achieve their post-pandemic vision. Findings show that, despite great...
Get in touch
Whatever your question our global team will point you in the right directionStart the conversation