Overcoming Business Challenges in Vietnam
Reading Time: 4 minutesVietnam has emerged as one of the most attractive investment destinations in Asia and globally. The country’s transition from a centrally planned economy to a market-driven one, as highlighted by the World Bank, has fueled its dynamic growth. Between 2002 and 2021, Vietnam’s GDP per capita increased 3.6 times, reaching around $3,700. The economy continued to thrive in 2022, with an 8.0 percent growth rate, surpassing the pre-pandemic average of 7.1 percent. Contributing factors include stable politics, favorable economic policies, and a young, vibrant population, 55.5% of whom are under the age of 35, presenting future opportunities for businesses targeting their evolving consumption habits.
