Doing Business with Vietnam
Asia Pacific Business Opportunities Conference 2010
Don Nay, Senior Commercial Officer, U.S. Embassy Hanoi
Geography
• Extending 1,650 km north
to south, Vietnam is only 50
km across at its narrowest
point
• Low, flat delta in south and
north; central highlands;
hilly, mountainous in far
north and northwest
Population
•
1 China
1,336,880
•
2 India
1,179,407
•
3 U.S.
309,042
•
4 Indonesia
231,370
•
5 Brazil
192,762
•
6 Pakistan
169,206
•
7 Bangladesh
162,221
•
8 Nigeria
154,729
•
9 Russia
141,927
•
10 Japan
127,380
•
11 Mexico
107,550
•
12 Philippines
92,227
•
13 Vietnam
85,789
The People
* Age Structure—26 % 14
and under ; 75% born after
1975
• Religion—Buddhist 9.3%,
Catholic 6.7%, Hoa Hao
1.5%, Cao Dai, 1.1%, none
80.8%
People, continued
• Ethnic Groups
--86%: Kinh (Viet)
--14%: Tay, Thai, Muong,
Khome, Hoa , Nun, Hmong…
• Median Age: 27.4 years
• Literacy: 90.3%
• Urbanization: 28%
Labor Force
• 43.87 million (2009 est.)
• agriculture: 51.8%
•
industry: 15.4%
• services: 32.7% (2009)
• country comparison to the
world: 13
Growth!
• Real income has grown an
average of 7.2 percent per year
over the last decade
• GDP per capita has gone from
$189 in 1993 to $1,052 in 2009.
•
Vietnam’s poverty rate has
fallen from 58 percent in 1993
to 12.3 percent in 2009.
Economic Milestones
• 1986 Doi Moi reforms proclaimed
• 1995 U.S. and Vietnam reestablish diplomatic relations;
Vietnam joins ASEAN
• 2001 Vietnam and U.S. sign BTA
• 2005 PM. Phan Van Khai visits the U.S., the first Vietnamese
leader to do so since the VN war ended.
• 2007 Vietnam becomes the 150th member of the WTO,
Commerce Secretary leads trade mission to Vietnam
• 2008 PM Nguyen Tan Dung visits the U.S.
Economy
• GDP—5.3% (2009)
• 6.2% (2007)
• 6.5 (2010 target)
• GDP -- $92.8 billion (2009)
Growth vs. Inflation
U.S. Exports to Vietnam
Grow by 11% in 2009!
• Vehicles:
445,968
• Machinery: 368,391
•
Iron/Steel: 236,820
• Meat: 221