Event report
Past Event | Breakfast talk: Doing Business in Vietnam
Thank you to our esteemed speakers Geraldine Mabille, Director Singapore Office at Business France, Duong Pham, Counsel at Hogan Lovells Hanoi office, Christophe Mermaz, Co-Founder and CEO at C- CUBE and to Dion Thai, Tax Partner at Deloitte for facilitating this panel discussion exploring the opportunities and practical considerations of doing business in Vietnam.
Here are the key takeaways from the discussion:
Vietnam's Economic Outlook:
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Vietnam is experiencing strong economic growth, with a projected GDP increase of 6.2% in 2024 and 6.6% in 2025.
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Domestic consumption is a significant driver of this growth, contributing to 66% of GDP.
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The country is a member of several major Free Trade Agreements (FTAs), offering trade benefits.
Promising Sectors for Investment:
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Technology & Services: E-commerce, Fintech, Cybersecurity
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Industry: Energy (transitioning to renewables), Infrastructure, Critical resources
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Health & Lifestyle: Bio & medical technologies, medical devices, Cosmetics
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Agrotech: Modernization of farms, Growth in wine & spirits, Focus on healthy & sustainable food
Challenges and Considerations of operating in Vietnam:
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Human Development Index (HDI) ranking is still low (107th).
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Doing Business ranking is also relatively low (70th).
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Legal framework can be complex and subject to change.
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Infrastructure needs improvement, particularly waste management and air pollution.
Overall Vietnam presents a compelling opportunity for foreign businesses, particularly in technology, healthcare, agriculture, and renewable energy. However, it's important to be aware of the challenges and seek legal guidance to navigate the business environment effectively.
For more information on the Breakfast talk, please feel free to contact Alexia Duvernoy: aduvernoy(@)fccsingapore.com
