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September 07, 2022 01:11 AM
Many investors consider Vietnam as an attractive investment destination in Asia due to its robust growth rate and well-executed support policies.
To achieve that, Vietnam has successfully shifted towards an export-oriented economy, actively engaged in Free Trade Agreements (FTAs), and consistently implemented policies for sustainable economic recovery and development.
Core competitive edge
Investment in Vietnam offers remarkable potential for lucrative returns. Several key factors contribute to this success, including:
So in the face of numerous global changes impacting all aspects of society, how did Vietnam navigate through these shifts?
Vietnam’s economy in the post COVID-19 era
In the wake of the pandemic, Vietnam has implemented comprehensive socio-economic recovery and development policies that have not only facilitated a swift rebound but also amplified its appeal to international investors:
In addition, Vietnam stands to benefit from its participation in the Regional Comprehensive Economic Partnership (RCEP) starting in 2022. This agreement grants Vietnam access to a market of 2.2 billion consumers, representing 30% of the global population, which is equivalent to 30% of global GDP. The RCEP Agreement will create a vast market teeming with opportunities for production and export for Vietnam.
Amidst the global challenges, Vietnam’s production indicators continue to exhibit positive signals. The gross domestic product (GDP) witnessed a notable surge, growing by 7.72% in the second quarter, the highest rate since 2011, compared to 5.05% in the first quarter. Construction and services sectors are two sectors that experienced significant output growth.
Furthermore, the average consumer price index (CPI) in the first four months of 2022 rose by 2.1% compared to 0.89 in the same period in 2021. The government’s diligent efforts to control inflation in the face of global disruptions in the supply chain have yielded favorable results.
Vietnam’s appeal for investment extends beyond its abundant and skilled human resources and attractive incentive policies. The country boasts well-developed infrastructure, featuring numerous industrial parks and ready-built factories spanning across the country, particularly in the Northern region and Thai Nguyen province to be more specific. Notably, the GNP Yen Binh 2 ready-built factory project, currently in the final stages of completion, stands out as a prime investment opportunity for foreign businesses that invest in Vietnam.
As a low corporate income tax (CIT) zone with favorable operating costs, strategic location at a transportation hub, and state-of-the-art infrastructure, the GNP Yen Binh 2 ready-built factory project will help investors “reap the rewards” quickly.
For guidance on investment policies in Vietnam and detailed information about the Yen Binh 2 ready-built factory area, feel free to reach out to our dedicated Hotline at +84 789 75 77 88.