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Analysis

Development of renewables in Vietnam may depend on improved incentives
OBG
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There is growing optimism that Vietnam is poised to move forward with developing its renewable energy resources. The publication in November 2015 of a Renewable Energy Development Strategy and the priority given to alternative energy in the revised Power Development Plan 7 (PDP 7) suggest rising government appreciation of the role renewables can play in meeting power demand growth, strengthening supply…

Analysis

Local purchasing drives growth in Vietnam's property market
OBG
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After the last downturn in the real estate market, things have picked up considerably in Vietnam. This is especially true in terms of access to financing. As commercial lending has resumed, mortgages have been more widely available, while foreign purchasers are no longer barred from buying properties after regulatory changes were enacted to allow foreigners to buy up to 30% of any condominium building…

Analysis

Vietnam's transport sector undergoes fleet upgrades and airport facility extensions amid increased passenger numbers
OBG
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Vietnam’s domestic aviation market has recorded very strong growth in recent years, driven by low-cost carriers (LCCs) that transported 55% of domestic passengers in 2016, according to the Civil Aviation Authority of Vietnam (CAAV). An August 2016 article by VN Express stated that budget airlines have rapidly increased their market share, recording annual growth rates between 15% and 20%. A New…

Analysis

Four licensed telecoms operators to introduce 4G services in Vietnam
OBG
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The coming years will be a busy time for Vietnam’s ICT market, as four of the country’s mobile operators start rolling out 4G networks after receiving licences. Three carriers – state-owned Viettel Group, MobiFone, Vietnam Posts and Telecommunications Group (VNPT) subsidiary Vinaphone – have already started running pilot projects and have installed the infrastructure needed to carry out the…

Analysis

Multinational organisations become more focused on transfer pricing and Customs in Vietnam
OBG
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Solid economic growth, low-cost manufacturing, a large consumer base and continued positive legislative reform, have combined to make Vietnam an increasingly attractive investment destination for multinational organisations. Strong foreign investment and rising international trade has resulted in the tax authorities focusing more on cross-border inter-company transactions. Investors must be aware…

Analysis

Banking sector
OBG
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Commercial banks have traditionally been the main suppliers of funding in Vietnam, since bank deposits remain the most popular form of investment for Vietnamese households. Even though credit growth has cooled as the government prioritises macroeconomic stability, the compound annual growth rate of 14.2% recorded in the 2011-16 period is significant even in a fast-growing economy like Vietnam. In…

Analysis

Life policies in Vietnam's insurance sector see rapid growth due to increasing income levels
OBG
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The largest and fastest-growing segment of the industry, the life insurance segment is set to continue its expansion as incomes grow and awareness rises. Life insurance premiums rose by 31% in 2016, reaching VND69.7trn ($3.1bn), according to the Insurance Supervisory Authority (ISA). The life segment is around twice the size of non-life, but the ISA expects growth of 25% for the segment in 2017. Higher…

Overview

Vietnam flexes international muscle while remaining an intensely local country
OBG
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Stretching across the heart of South-east Asia, the Socialist Republic of Vietnam has risen to become one of the region’s greatest economic success stories, after witnessing a remarkable post-war economic recovery. The nation’s vast coastline, rolling highlands, dense jungle and abundance of natural resources have helped to bolster its rapid industrial development, while ongoing economic liberalisation…

Overview

Foreign direct investment and trade in Vietnam continue to climb
OBG
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Vietnam’s economic success over the past three decades has been built in no small part on its openness to international trade and investment. It is now among the world’s most open economies, according to the IMF – in the last 15 years alone, its share of world trade has quintupled, with combined imports and exports now equal to around 160-170% of GDP. Driving Force Foreign direct investment…

Overview

Increased investment in Vietnam encourages economic development, although challenges remain
OBG
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Among the world’s most impressive emerging market success stories of the past three decades, Vietnam has been achieving high growth rates, encouraging a huge reduction in poverty and attracting billions of dollars of foreign investment. What was, until relatively recently, considered a comparatively poor country by regional standards – with an economy previously weakened by decades of war –…