Tiếng Việt
한국어In a time of many changes and difficulties in the world today, Vietnam is not only a country that always stands firm in the face of storms, but also a country with rapid growth – economic growth rate. Vietnam’s economy in 2022 will reach 8.02%, among the highest in the region.
So what are the reasons why Koreans should expand their businesses through Vietnam?
- Geographical location – Potential market
Located in the heart of Southeast Asia, occupying the eastern coast of peninsular Southeast Asia and sharing land borders with China to the north and Laos and Cambodia to the west, with a land area of 331,114 km2 – 3 times the size of South Korea, Vietnam could serve as a launching pad and base for the largest set of populations on earth (the sum of ASEAN along with China, Japan, Korea and South Korea is more than 2 billion people).
Moreover, Vietnam has a beautiful sea route of 3,444 km, which is an ideal condition for developing the maritime industry, trade and tourism in particular and rising to become the shipping center of the world in general.
- The economy is on the rapid rise
Vietnam’s development has been remarkable over the past 30 years. The economic and political reforms under Doi Moi, which began in 1986, transformed one of the world’s poorest countries into a middle-income country. During the Covid-19 period and uncertainties in the world economy, Vietnam is still a country with positive growth, with 8.02% in 2022, setting a record for more than 10 years. According to the General Statistics Office, Ministry of Planning and Investment, GDP scale at current prices in 2022 is estimated at 9,513 million billion VND, equivalent to 409 billion USD. Thus, it can be seen that the scale of Vietnam’s economy has increased more than 10 times compared to 2000.
- Abundant and highly knowledgeable workforce
Vietnam has a population of 97.47 million people (the 15th largest in the world), which is expected to grow to more than 100 million by 2025 with an annual growth rate of 1.2%. More than 50% of the population is 25 years old or younger. Possessing young, highly skilled workers with a good work ethic and a literacy rate of more than 90%, Vietnamese are well-educated and ready to serve in skill-demanding industries. such as information technology, pharmaceuticals and financial services at a more competitive cost than other countries in the region.
- Political stability and consistency
Located in a region where some other countries are still vulnerable to political and economic instability, Vietnam has benefited from a stable government and social structure, making it an ideal location for capital investment. In particular, Vietnam is a one-party state governed by the collective leadership of the General Secretary of the Communist Party, the Prime Minister and the President. After 40 years of peace and development, Vietnam has become one of the reliable investment destinations of many countries due to its stability and political consistency.
With all the above reasons, Vietnam is definitely an ideal place for Korean businesses to expand.
KOVIEPARTNERS – A connection platform between Vietnamese and Korean businesses
We provide a full package of services for Korean businesses that want to enter the Vietnamese market such as:
- Vietnamese manpower supply and demand services provided to Korean customers: IT manpower, marketing, IT mobile app, etc.
- Vietnam local business agency, local office, office personnel, branch office package, export success package, business registration, import license registration,…
- Business trips, buyer matching
Please contact and cooperate with us via:
Hotline: 0368.903.045
Email: Koviepartnersvn@gmail.com
Website: www.koviepartnersvn.com