Current: Home » ASEAN Overview » text

Vietnam Opportunities

放大字体  缩小字体 Post date:2013-01-24  Views:185
Tips:Opportunities Continued strong economic growth, ongoing reform and a large population of 86 millionhalf of which are un
 Opportunities   

Continued strong economic growth, ongoing reform and a large population of 86

million—half of which are under the age of thirty—have combined to create a

dynamic and quickly evolving commercial environment in Vietnam

Sales of equipment, technologies and consulting and management services

associated with growth in Vietnam’s industrial and export sectors and implementation

of major infrastructure projects continue to be a major source of commercial activity

for foreign firms. 

Per capita GDP surpassed $1,000 in 2009 and is estimated to be at about $1,100 as

at the end of 2010. With disposable income levels in major urban areas four to five

times this level, significant opportunities in the consumer and services sectors are

fast emerging. 

Telecommunications, information technology, oil and gas exploration, power

generation, highway construction,  environmental project management and

technology, aviation and education will continue to offer the most promising

opportunities for foreign companies over the next few years as infrastructure needs

continue to expand with Vietnam’s pursuit of rapid economic development. 

The GVN plays a significant role in the economy, with state-owned enterprises

(SOEs) making up 38 percent of GDP. The GVN strategy to “equitize” (partially

privatize) SOEs in all sectors of the economy is slowly moving forward. While the

GVN will maintain majority ownership in the largest and most sensitive sectors of the

economy, including energy, telecommunications, aviation and banking, the

equitization process will nevertheless create opportunities for many foreign companies. 

A new telecommunications law and a new radio frequency law were passed by the

National Assembly in November 2009 and went into effect on July 1, 2010,

potentially opening up new opportunities for trade and investment by foreign firms in

this rapidly expanding market segment.

Vietnam needs to import a large number of tractors, diesel engines, pumps, threshing machines, harvesters, dryers, as well as pesticides, fertilizers, feed etc. every year.

    Vietnam is rich in aquatic resources, but it is poor in processing with low utilization of aquatic products.

The sales of all  kind of household appliances and laser disc player, laser machine, music centers and other audio-visual equipment, hairdryer, juicer, electric irons and other are riseing in Vietnam.

    Western medicine in Vietnam is mainly rely on imports. Vietnamese are rely on traditional Chinese medicine and they particularly welcome chinese tonic. Traditional Chinese Medicine enjoy high reputation in Vietnam Pharmaceutical Market and Vietnamese always like to use of Chinese medicine. Chinese- Western medicine market in Vietnam is worth developing.

    With the gradual development of the Vietnamese economy, the growing demand of steel billets and steel billet production can not meet the needs of economic development. In 2002 Vietnam imports 270 million tons of billet with an increase of 35% over the previous year. Vietnam has huge demands of steel scrap for steel,however Vietnam itself can only meet 30% of demands.

Vietnamese machinery industry is backward, it needs textile machinery, building material machinery, mining machinery, transportation machinery, light industrial machinery for economic develop and they need special machine tools and precision machine tools.

    Vietnam's textile and garment industry is the largest labor-intensive industries, is one of the main sources of foreign exchange. Advanced fabrics for processing are mainly imported,and it also imports silk, plush.

The export of shoemaking industry is increasing year by year, but they are lack in materials, especially leather shortage.So the leather market potential is huge. In addition, Vietnam plans to invest $ 60 million in the last five years for the introduction of leather processing equipment and technology to improve the quality and yield of leather, and gradually to meet the needs of the domestic market.

Vietnam's plastic raw materials, recreational facilities and toy market has a considerable potential. The average annual growth rate of Vietnam’s plastics industry is 15% -20%, and has been able to produce a variety of plastic daily necessities and building materials: pots, poke, shoes, raincoats, toys, TV cabinet, for drain pipes. However, Vietnam's shortage in plastic raw material,which can not meet the need of the rapid development of the plastics industry.So it mainly rely on imports, for which the Vietnamese government encourages foreign investment in the produce plastic raw materials.

The electrical equipment, building materials and dry process contracting market in Vietnam is considerable. Vietnam are required to purchase a large amount of electrical equipment and materials for its transformation of the grid structure in southern region of Vietnam.

    Vietnam Cement Corporation annually increased imports of 3000000-5000000 t permanent sludge.

    Vietnam plans on a few cement production line. Vietnamese transport sector will invest in 56 projects in 2003.

Agricultural Machinery

Vietnam needs to import a large amount of agricultural machinery for its agricultural develop.

Moto

The motorcycle is the main transport for Vietnamese people. At present, Vietnam has a total of over 400 million motorcycles.It is estimated that in the future will increase the speed of 300,000 -40 million units each year.

 

Colour TV set

Currently, the popularity rate of colour TV sets in Vietnamis only 45%.And it is mainly in the big cities.

Agricultural Chemicals

It is said that the capacity of pesticide market in Vietnam is approximately $ 120 million -1.5 billion / year

Fisheries, aquatic products processing

Vietnam is rich in aquatic resources,the annual production is more than 200 million tons, and the fishery equipment market has great potential. Vietnam is rich in aquatic resources, but it is poor in processing with low utilization of aquatic products.

Medicine

Traditional Chinese Medicine enjoy high reputation in Vietnam Pharmaceutical Market and Vietnamese always like to use of Chinese medicine.

Steel billet, steel

Vietnam has huge demands of steel scrap for steel,however Vietnam itself can only meet 30% of demands.

Forage

Vietnam has 17,640,000pigs, 160,550,000 poultry (without chicken), 120,570,000 chicken. The feed demands ig huge. Vietnam itself only meet 55% of the market demand

Textile

Advanced fabrics for processing are mainly imported,and it also imports silk, plush.

Raw Materials for Plastic

Vietnam's plastic raw materials market has a considerable potential. The average annual growth rate of Vietnam’s plastics industry is 15% -20%.

Raw Materials for shoemaking

The export of shoemaking industry is increasing year by year, but they are lack in materials, especially leather shortage.

Packaging platemaking and advertising production

Plate technology is backward in Vietnam,and it can not meet the needs of the packaging and printing, the vast majority of packaging and anti-counterfeit version are still rely on imports,and  update frequency,the demands is huge.

High-fidelity computer color graphics copy in Vietnam is still blank with a large market potential.

Recreational Facilities

It is lack of facilities with a huge market.

Construction Machinery

The infrastructure construction, project contracting market in Vietnam is very active with a  greate demand of construction machinery.

 

Information comes from CIA wordfacts ,WIKIUS Embassy China Embassy and so on.

 


Keyword: Vietnam Opportunities

[ newsSearch ]  [ ]  [ Tell Friends ]  [ Print ]  [ Close ]

 

 
Recommended news
Click ranking

Copyright © 2004-2014 ChinaAseanTrade.com All rights reserved

沪公网安备 31010102002066号