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Competitive Advantages for Business with Viet Nam

Explore the competitive advantages of Viet Nam as an emerging economy, including its geographic position, political stability, natural resources, open international trade, human resources, and attractive investment opportunities.

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Competitive Advantages for Business with Viet Nam

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  1. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM • Mr. Tran Xuan ThuyConsul General of Viet Nam in Mumbai • Mumbai, 28th September 2018

  2. Outline I. Viet Nam in brief 1.1. A snapshot 1.2. Peaceful and friendly country 1.3. Emerging economy 1.4. Developing country 1.5. Exporting country 1.6. Interesting destination for FDI 1.7. New IT country II. Competitive advantages for doing business with Viet Nam 2.1. Geographic position2.2. Political and social stability 2.3. Plentiful natural resources 2.4. A potential market highly open for international trade 2.5. Human resources 2.6. An emerging economy with high steady growth. 2.7. A favorable context of the comprehensive partnership between Viet Nam and India. 2.8. An attractive destination for Indian investment

  3. Source: Viet Nam General Statistics Office, UNDP, World Bank

  4. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.1. Geopolitical position: - Viet Nam is located in the Asia-Pacific, a most dynamic economic region in the next decades. - Viet Nam is a link in the global value chains

  5. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.2. A country in peace and political and social stability: - Country in peace despite some sea border problems. - Stable legislative and executive powers. - Democratization is ongoing in Viet Nam. - Non threat of terrorism - Fewer strike.

  6. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.3. A country plentiful in natural resources: - Available of land (33 million ha), water (835,000 millions m3 per year) - Rich in mineral resources (fuels, bauxite, nonferrous metal…) - Plentiful of forests and marine resources.

  7. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.4. A potential market highly open for international trade: - A market of near 93 million consumers. - A part of the ASEAN Economic Community (AEC) of 640 millions inhabitants. - Viet Nam and India are the members of the ASEAN-India Free Trade Area (AIFTA). - Viet Nam has signed 10 FTAs, completed the negotiation for 2 FTA and has been negotiating 5 others (including CPTPP).

  8. TOP 10 MAIN IMPORTS OF VIET NAM(Source: customs gov.vn – in Billion USD)

  9. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.5. Rich in human resources: - Total labour force: 54,4 million (2016). - Golden demographics: working population. accounts for 58,7% of the total population. - 97,3% of people over 15 years old is literate - Nearly 20% of people over 15 years old possessed some form of technical qualifications.

  10. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.6. An emerging economy with high steady growth and good business environment: - Located in the most dynamic economic region of the world from 2020 to 2040 - Average GDP growth rate of Viet Nam 1986-2015: 6.6% p.a. GDP growth rate: 6.21% (2016) and 6,81% (2017). - Commitment of Viet Nam Government to liberalise its economy and introduce reforms based on the free market.

  11. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.7. A favorable context of the comprehensive strategic partnership between Viet Nam and India: • Traditional friendship between Viet Nam and India. • Relationship upgraded to a strategic partnership (2007) and a comprehensive strategic partnership (2016). • Our two countries are sharing many common interests and have the same point of view and solution on important issues. • Preferential credits lines given by India Government for joint projects Viet Nam – India.

  12. II. COMPETITIVE ADVANTAGES FOR DOING BUSINESS WITH VIET NAM 2.8. An attractive destinations for investment : - FDI flow into Viet Nam: $300 billion. - Top 10 FDI country/territory: Republic of Korea, Japan, Singapore, Chinese Taipei, British Virgin Islands, Hong Kong, Malaysia, China, United States, Thailand. - India is currently ranked 28th out of 116 countries and territories investing in Viet Nam, with 134 projects and total registered capital of over $700 million.

  13. CONCLUSION • Doing business with Viet Nam is now an opportunity for foreigner businessmen. • Business environment in Viet Nam is not yet perfect but better and better. • Some difficulties exist eventually in doing business with Viet Nam; but it is possible to overcome these difficulties. • Easier to do business in Viet Nam than in India if you believe in the WB Business Ranking 2017.

  14. EASE OF DOING BUSINESS RANKINGS 2017 BY WORLD BANK(from 1-190)

  15. Thank you CONSUL GENERAL OF VIET NAM IN MUMBAIUnit 805, Powai Plaza, Central Avenue, Hiranandani Gardens, PowaiMumbai 400076- IndiaTel: (22) 25702033/ Fax: (22) 25702034Email: tlsq.Mumbai@mofa.gov.vn or tlsq.mumbai2017@gmail.com TRADE OFFICE – EMBASSY OF VIETNAM IN INDIA B-5/123, GF Safdajung Enclave, New Delhi-110029Tel: (11)2617 5953 / Email: in@moit.gov.vn or btt511@yahoo.in

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