VIET NAM: CPH POST Supplement, 2017

special supplement

VIET NAM october 2017

VIET NAM: A FAST-GROWING, VIBRANT ECONOMY 46 YEARS OF FRIENDSHIP WITH DENMARK

VIET NAM

AMBASSADOR’S WELCOME MESSAGE

Nguyen Truong Thanh Ambassador of Viet Nam

On the occasion of the 72nd Independence Day Anniversary of the Socialist Republic of Viet Nam (2 September 1945-2 September 2017), it gives me great pleasure to present, in this Supplement, a small glimpse into the timeless charm and great achievements of our beautiful country.

Over the past 72 years, the people of Viet Nam have been united in overcoming difficulties and hardships with bravery and creativity to safeguard national independence, sovereignty and territorial integrity and build Viet Nam into a strong country with prosperous people, and a just, democratic and civilized society, thus contributing to peace, stability and prosperity in the region and the world.

REFORM – THE FOUNDATION FOR GROWTH

The 30 years of reform (Doi Moi) has provided Viet Nam with the basic foundations to grow and develop sustainably. Once an underdeveloped nation, Viet Nam has now become a middleincome country, growing consistently at a rate of around 6 percent per annum. The scale and potential of the economy are both increasing. Social and economic infrastructure is expanding rapidly. The socio-political system is stable, social welfare and the living standards of the people are both improving constantly.

Viet Nam has so far made great efforts in fulfilling many of the Millennium Development Goals. However, Viet Nam is currently facing many difficulties and challenges on a global scale from environmental issues and climate change to problems in the business and investment environment.

In order to address these challenges and accelerate economic growth, Viet Nam will continue with deeper reforms, vigorously implementing economic restructuring vis-a-vis transforming the growth model through three strategic breakthroughs: improving the market economy, modernising infrastructure and developing a high quality workforce, and promoting industrialisation and modernisation. These efforts are expected to change the face of the Vietnamese economy, as well as being a driver for economic development of the country.

FOREIGN RELATIONS

In the field of foreign relations, Viet Nam consistently pursues a foreign policy of independence, self-reliance, peace, co-operation and development, multilateralisation and diversification of external relations. Viet Nam is a reliable friend and partner to all countries as well as being a responsible member of the international community.

We are well aware that a country’s development is closely combined with the peace, stability and prosperity of the region and the world. Dialogue, co-operation, mutual respect on the basis of mutual benefits, international laws and common practices are the most fundamental and effective way to maintain peace and stability for the mutual development of all countries.

With that in mind, Viet Nam has always done its utmost to make active and responsible contributions to addressing security and development issues in the region and the world.

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International integration has become a major part of our foreign policy for the past five years as well as for the years ahead. In line with this, we consider international economic integration as the centrepiece. With a wide range of Free Trade Agreements (FTAs) signed or under negotiation with 55 partners, including 15 members of G20, Viet Nam is turning into an important node in the regional economic network, bringing her international integration to a new level and deepening her participation in the global value chain. And 66 economies have so far recognised Viet Nam’s Market Economy Status (MES).

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This year 2017 is a remarkable one when the Association of South East Asian Nations (ASEAN) commemorates the Golden Jubilee Anniversary and Viet Nam celebrates 22 years of membership.

At the same time, Viet Nam is the host country for the year-long Asia-Pacific Economic Cooperation (APEC) meetings in 2017 with the theme “Creating New Dynamism, Fostering A Shared Future”.

PARTNERS WITH DENMARK

Viet Nam and Denmark are gradually becoming important economic partners for each other and this is marked by the continually growing bilateral trade turnover and ever-expanding investment projects.

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The total volume of bilateral trade between the two countries has exceeded 500 million US Dollars. Meanwhile, Denmark ranks 25th in the list of foreign investors in Viet Nam, with a total of 133 projects with an overall capital of more than 820 million US Dollars.

The establishment of a Strategic Partnership in climate change, energy, environment and green growth in 2011 followed by the Comprehensive Partnership signed in 2013 is the embodiment of the two governments’ commitment to the creation of the most fruitful political and diplomatic climate for the business communities to co-operate and grow.

In 2017, Viet Nam and Denmark celebrate 46 years of diplomatic relations. On this occasion, I would like to express my belief that the traditionally friendly relations and effective co-operation between the two countries will continue to be further strengthened and developed in the future.

Nguyen Truong Thanh

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Ambassador of Viet Nam

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VIET NAM TOURISM

Five of the best in Viet Nam

BY LARA SPIRIT Viet Nam offers the tourist a very rich cultural life as well as stunning nature.

A vast country tracing the outer line of South East Asia, the route of travellers tends to be a well trodden one.

Either starting at Hanoi or Ho Chi Minh, it’s logical to either work your way up or down the country. Flights, trains and buses abound to make your chosen route a seamless one.

PXHERE

Below are five of my own favourite places to visit, but there are, of course, many more. So just go there and discover your own personal favourite.

HANOI Arriving in Hanoi can be a little overwhelming and the terrifying sensation of watching lines of chaotic, fast-moving traffic narrowly miss a calamitous crash on each corner does not diminish with time. This energy really makes the city. Unlike its more developed Southern counterpart, Ho Chi Minh, the tell-tale signs of the past remain plain to see: play a game of chess with a local in the bustling old quarter, for instance, and they’ll tell you about Viet Nam’s history in the context of a city which has played host to the nation’s most pivotal events.

HANOI

The Temple of Literature stands as an oasis of calm in this fastpaced metropolis. Take a slow amble through the gardens and admire the detailed design of the single-story buildings, clad inside with a deep red and featuring an impressive array of gold statues and ornaments.

HA LONG BAY Without doubt Viet Nam’s largest tourist attraction, and one well deserving of the World Heritage Site accolade it received in 1994, it is not surprising that the great blue bay can be seen in a variety of different ways.

PHNG NHA

Most visitors will come from either Sapa – a mountainous range north of the site with sprawling green rice fields and traditional homestays – or Hanoi. Depending on how much you want to see,

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VIET NAM TOURISM

HOI AN

how long you want to be staying in the bay for and, ultimately, how much you want to spend, the specific boat tour you choose bears close consideration.

HOI AN

There are luxury tours such as the Dragon Legend and Bhaya Cruises and these can leave from Hanoi and are usually two days and one night aboard. It is possible to see the beauty of the bay on a budget too, and the best way to do this is to take a one day tour instead and check into a hostel for one night. Most tours – budget or luxury – will include a freshly cooked lunch in the price.

PHONG NHA This is a lesser known location deserving of far more footfall than it currently garners. The national park picked up it’s UNESCO world heritage label back in 2003 and remains beautifully conserved.

What makes Phong Nha so special is its caves. The Paradise and Tu Lan caves are stunning, but booking a more comprehensive tour with access to some of the other, lesser-known sites would be an advantage. They’re widely regarded to be among the most beautiful in the world, and while the national park as a whole is not short of activities for the active rambler, it should be remembered that these are absolutely the must-see sights.

Be sure to stay in the Easy Tiger Hostel or, if you’re feeling indulgent, the Chay Lap Farmstay, located just a little further outside. Easy Tiger have made impressive efforts to integrate the local community into a more sustainable form of tourism to the area. Given the high number of accidents caused by tourists renting

HO CHI MINH

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VIET NAM TOURISM HA LONG BAY

motor bikes, a local enterprise has been set up by locals to take visitors around on the back of their own bikes. This a great way to ensure you see the best of the area and stay safe as well!

HOI AN Found not far from the larger and more commercial Da Nang, Hoi An’s small though bustling ambiance has made it a popular spot for tourists. The rich yellow buildings complete with shutters are reminders of the French occupation in a similar design to that of Dalat, and the colourful quarters are lined with small art galleries, cafes and shops selling ceramics.

Hoi An is a perfect place to rent a bicycle and take the short cycle ride out the beaches that line the Northern part of the town; dotted with small outdoor bars and equally unobtrusive hotels, it’s a wonderful setting to recline and watch the sun set.

An absolute must, though, is sampling the town’s famous dish: cao lầu. Pick it up at the market at a seriously good price and enjoy noodles laden with richly flavoured pork and fresh greens.

DALAT

DALAT Dalat really is exceptional. Chosen as a favourite holiday retreat during the days of French colonial rule, the town’s cooler, crisper climate remains a respite for tourists tiring of the relentless humidity of the summer air found on lower ground.

This climate has made it a popular place for a range of outdoors activities; whether it be water rafting or climbing the famous waterfalls, these expertly organised ventures are a great way to see Dalat – dotted with French villas rather than the more typical soviet style architecture – and its surrounding areas.

HO CHI MINH To the tourist Ho Chi Minh can seem a little daunting. It’s hard to know where to stay and even harder to work out how to get around when you get there. But don’t be deterred – the plethora of restaurants, museums, galleries and activities on offer makes up for the potentially overwhelming break from Dalat or Phong Nha’s languid calm.

Square One and Shri Lounge showcase the best (though also the more expensive) Vietnamese cuisine. If you’re craving a little western fix, the R and J Italian lounge won’t disappoint. And while food is undoubtedly a large part of the city’s appeal, the only absolute essential on your itinerary should be the war remnants museum, which stands as Viet Nam’s most comprehensive testament to a tormented past.

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VIET NAM HISTORY

Viet Nam: from humble beginnings to Asian powerhouse

Viet Nam has a history as rich and evocative as anywhere on the planet THE FIRST STATE Viet Nam is located in a region considered to be a cradle of mankind, one of the first agricultural centres to practice wet rice farming and where stone and metallurgical revolutions took place. The first state in Viet Nam, Van Lang, was established in the 7th century BC. DONG SON DRUM

Thanks to hard work and creativity, residents of Van Lang (and subsequently Au Lac) created a civilisation that influenced the entire south east Asian region. Viet Nam developed a diverse economy and advance culture known as the Red River civilisation (or Dong Son civilisation). This was symbolised by the Dong Son bronze drum, a heritage reflecting the quintessence of the lifestyles, traditions and culture of the ancient Vietnamese.

VILLAGES PROTECTION SYSTEM

CENTURIES OF CONFLICT During the process of nation-building, the Vietnamese were subjected to many years of foreign aggression. During the 12 centuries from the resistance to the Chinese Qin dynasty in the 3rd century up until the late 20th century, the Vietnamese people have been involved in a great many wars and uprisings in their bid for independence.

NGÔ QUYᝀN

From the 2nd century BC, Viet Nam was dominated by a number of Chinese dynasties for over 1,000 years. During this period a spirit of staunch indomitability emerged in the Vietnamese determination to preserve and build on its culture to gain independence. Village culture is central to Viet Nam and it is these villages that have played a great role in nurturing traditional culture and the spirit of unity amongst the Vietnamese.

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VIET NAM HISTORY

REBIRTH AND DEVELOPMENT

BUILDING A NEW GREAT NATION

A new chapter in Vietnamese history was opened up by the battle of Bach Dang in 938. Here, forces led by Ngô Quyền defeated the invading forces of the Southern Han state of China and put an end to centuries of Chinese imperial domination in Viet Nam. This led to the development of an independent feudal state, as well as the construction of national defence works. The centralised state administration was established under the Ngo (938-965), Dinh (969979) and Le (980-1009) dynasties.

Independence finally came with 1975 spring offensive and the collapse of the South Vietnamese government. Since then, a new era of peace, national reconstruction and unification has come into being.

Viet Nam then entered a period of rebirth and development under the Ly (1009-1226), Tran (1226-1400), Ho (1400-1407) and Le So (1428-1527) dynasties. Under the Ly-Tran-Le So dynasties the country was known as Dai Viet and was famous as one of the most prosperous countries in Asia. This was a golden age in Viet Nam’s history and economically, it saw the development of agriculture, irrigation – with the construction of the Red River dyke) and the emergence of traditional handicrafts.

In 1986 at the 7th congress of the Communist Party the Doi Moi reform policy was launched, with the prime focus on economic reforms. This marked a new milestone in the development of the country. The policy has been upheld and continued through subsequent party congresses. With the implementation of six fiveyear plans, Viet Nam went from being a net importer of food to the second-largest rice exporter in the world. High economic growth rates have been a feature of the late 20th and early 21st centuries and there has been a significant improvement in the quality of people’s lives. Social policy has been prioritised, the legal system has been expanded and law and order measures implemented.

INDEPENDENCE DAY CELEBRATION

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I N T E R NAT IO NA L R E L AT IO N S

Denmark and Viet Nam

─ celebrating 46 years of friendship A chronological look at the traditional and cordial relations between the two countries The first concrete manifestation of DanishVietnamese co-operation on the diplomatic front took place in 1971, when Denmark opened an embassy in Hanoi led by a chargé d’affairs. In 1977, Viet Nam’s Prime Minister, Pham Van Dong, paid a visit to Denmark.

In the early 1990s, Danish aid programs began to be reinstated – to begin with, through supplying existing Danish aid projects with spare parts. Shortly afterwards, the first Danish business delegation visited Viet Nam.

Phan Van Khai visited Denmark. Under ambassador Niels Julius Lassen, Denmark reopened its embassy in Hanoi. Viet Nam was also selected to be a partner country for Danish development co-operation. The first Vietnamese embassy in Denmark was opened in 2000.

BEGINNING TO TAKE OFF

Prince Henrik, the Danish Prince Consort, revisited the country in 2003, accompanied by a large business delegation. Henrik’s father had owned factories in the country when it was a French colony, so he had spent part of his childhood there, and from 1950-52, Henrik attended the French high school in Hanoi.

In 1994 things really began to take off in terms of diplomatic visits. During the period 1995-2000, Prime Minister Vo Van Kiet and

The same year saw a visit to Denmark from Do Quang Trung, the Minister for the Interior, and Mai Ai Truc, the Minister for the Environment.

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Another Danish royal visit to Viet Nam took place in 2006, when Prince Joachim went to Viet Nam and Cambodia in his capacity as Protector of the humanitarian charity focusing on helping poor people in rural areas in Africa and Asia, Care Denmark.

Viet Nam played host to another Danish royal visit in 2009 when Queen Margrethe, Prince Henrik, Crown Prince Frederik and Princess Mary were welcomed by the Vietnamese President, Nguyen Minh Triet, Prime minister Minister Nguyen Tan Dung and General Secretary Nong Duc Manh.

The Danish royal family were accompanied by the Minister of Culture and the Minister for the Environment, as well as a Danish delegation representing 68 companies and a cultural delegation.

DANISH EMBASSY IN HANOI, VIET NAM

WELCOME CEREMONY FOR VIETNAMESE PRESIDENT TRUONG TAN SANG AND MADAM MAI THI HANH AT COPENHAGEN AIRPORT

Similarly, in the same year, Viet Nam’s Prime Minister, Nguyen Tan Dung, accompanied by a business delegation, visited Denmark from November 15-20.

Whilst here, he met Queen Margrethe, the Danish Prime Minister – and other Danish ministers and business representatives.

Crown Prince witnessed the signing of a strategic partnership agreement between the two countries on climate change, the environment, and energy and green growth. It also established the framework for a more comprehensive agreement that was to be signed in 2013.

A STRATEGIC PARTNERSHIP

To that end, in November 2012 the Danish Prime Minister, Helle Thorning-Schmidt, and Martin Lidegaard, Minister of Climate Energy and Buildings, visited Viet Nam to expand the agreement and to bring Danish know-how to help Viet Nam lessen its dependency on fossil fuels.

To celebrate the 40th anniversary of the establishing of diplomatic relations between Denmark and Viet Nam, the Danish Crown Prince, accompanied by the Minister for Trade and Investment paid a visit to the country. They were accompanied by a business delegation from 40 companies and educational institutions. As part of the visit, the

In 2013, the Vietnamese President, Truong Tan Sang came to Denmark on an official state visit. Whilst here, he signed the

bilateral Comprehensive Partnership Agreement (CPA), which is the cornerstone of future co-operation between Denmark and Viet Nam. A MATURING OF RELATIONS Moving along to 2015, a Danish delegation visits Viet Nam in January and during the visit, inaugurates the Danish Growth Council for Vietnam. This is a knowledgesharing forum for Danish ministries and companies operating in Viet Nam. Later in the year, another Danish delegation visits.

This time, the Minister of the Environment and Food, Eva Kjer Hansen, signs an MOU making Viet Nam the 8th partner country in the Global Green Forum (3GF) that Denmark is head of.

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To commemorate the 45th anniversary of diplomatic ties, the Danish Foreign Minister comes to the country in October. Here, he meets the Prime Minister plus a number of other important politicians. He also takes the opportunity to visit three Danish companies operating in Viet Nam. Also in October 2016, National Assembly Vice Chairwoman Tong

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Thi Phong visits Denmark and attends a ceremony marking the 45th anniversary of Vietnam–Denmark ties in Copenhagen.

bilateral partnership. The visit is focused on four sectors; education, food safety, the environment and health.

Most recently, in May 2017, the Danish Minister for Development Co-operation, Ulla TørnÌs, pays a visit to the country with the intention of enhancing the

It can be seen by the above that Denmark and Viet Nam will most certainly be having a lot more to do with each other in future as bilateral relations between the two countries

matu

ure.

VIET NAM INVESTMENT

Play your cards right and invest in Viet Nam

BY CAYLYN RICH

Viet Nam has a full pack of cards when it comes to playing the global economic game.

Although the Asian Development bank forecasts an expected 6.3 percent economic growth rate for the country in 2017, the Vietnamese government expects to reach a rate of 6.7 percent. To keep things on the boil, the government has decided to keep tax rates unchanged.

This initiative stems from a past that could hint at the underlying reasons for the country’s recent economic surge. Following a trade deal in 2001 with the United States, Viet Nam joined the World Trade Organization (WTO) in 2007. This step towards international integration became the decisive impetus for Viet Nam’s emerging economy.

Since then, Viet Nam has joined trade initiatives such as the Trans-Pacific Partnership (TPP), ASEAN Economic Community, and the 21st century Maritime Silk Road. In an ever-globalising society, Viet Nam has firmly set its sights on international integration.

AN OPEN BUSINESS ENVIRONMENT

Foreign Direct Investment (FDI) is an excellent example of the Viet Nam success story and according to the ministry of planning and investment, as of July 2017, FDI projects were projected to show a 5.8% rise from the same period in 2016.

“As such, it is set to see a continued flow of investment coming into the country’s garment and electronics manufacturing, among others,” adds Vietnam Briefing.

To date, Viet Nam has established Strategic Partnership with 15 countries and Comprehensive Partnership with 10 countries. All the P5 countries in the UN Security Council are either Strategic or Comprehensive partners of Viet Nam.

Of all Vietnamese cities, Ho Chi Minh City holds the record for having received the most foreign direct investment (FDI).

Geographically speaking, the country could not be more perfectly located. Situated in a hemisphere where hubs of commerce have exchanged goods for thousands of years, geography has certainly given Viet Nam a progressive leg up in enabling economic interests.

Recently, the country has pursued a more ‘arms-length’ policy with regard to the US, pulling out of the TPP and pursuing tariff agreements with the EU, which are due to take effect in 2018.

Viet Nam pursues an open business environment with an increasingly stable legal platform. A low inflation and stable currency with macro stability make it a very attractive choice for prospect-insightful investors.

Viet Nam specialises in garments, textiles, and electronics, catering to a wide export audience for these products. The IT sector in Viet Nam is constantly on the lookout to recruit techsavvy experts with an eye for development.

LOOKING TOWARDS EUROPE

“Last year, Viet Nam signed a free trade agreement with the European Union (EVFTA), eliminating trade tariffs by 2018, among other provisions,” said Vietnam Briefing.

Apart from the EVFTA, “Viet Nam continues to diversify its economic partners, such as through increased ASEAN integration, the proposed Regional Comprehensive Economic Partnership (RCEP), covering 3.4 billion people and which may emerge as the alternative to the TPP. VIET NAM

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VIET NAM INVESTMENT

HERE COME THE VIKINGS

Denmark showed perceptible interest in Viet Nam in 2012 when the Danish government launched its ‘Growth Strategy for Vietnam’. This was intended to facilitate Danish business within the infrastructure of Viet Nam. This was largely in response to Viet Nam being labelled as one of the ‘Next Eleven’ standing a chance of becoming one of the world’s largest economies in the 21st century, according to the Ministry of Foreign Affairs. This project has been largely successful, as the Vietnamese economy continues to grow.

JAPAN ALSO INTERESTED

Japan is also a leading economic and trade partner with Viet Nam. New direct airline routes between the two countries are strengthening an already prosperous relationship.

Two major airlines, Vietjet and Jeststar Pacific, are rapidly expanding their routes while maintaining affordable flight prices. They are both low-cost carriers, and Vietjet operates 350 flights a day throughout Viet Nam and to other international destinations, including Japan, Thailand, Taiwan, Hong Kong and mainland China.

Founded in 1956, Vietnam Airlines is the flag carrier of Viet Nam and was established as a state-owned enterprise in April 1989. Headquartered in Long Bien District, Hanoi, it has hubs at Noi Bai and Tan Son Nhat International Airports. The airline flies to 52 destinations in 17 countries.

Vietnam Airlines became a member of SkyTeam in June 2010, making it the first Southeast Asian carrier to have joined that alliance.

Viet Nam is further strengthening ties with Japan by hosting culture-related events, such as sports tournaments and food expos to increase the number of Japanese tourists. The partnership with Japan will probably evolve organically, as Japan is attentive to the expanding Vietnamese tourism market.

“The number of Vietnamese visitors to Japan jumped from 4,000 in 2010 to 204,000 last year while Japanese tourist arrivals in Viet Nam have also been on the rise, expected to hit 1 million annually,” according to the Viet Nam National Administration of Tourism. Bilateral co-operation in sport is also expected to increase, especially when Japan hosts the 2020 Olympics.

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VIET NAM INVESTMENT

VIET NAM AND ASEAN

ASEAN – the Association of Southeast Asian Nations – is a regional intergovernmental organisation of ten Southeast Asian states that exists to promote Pan-Asianism and intergovernmental co-operation and facilitate economic, political, military, educational and cultural integration amongst its members and Asian states. Formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore, and Thailand, the organisation’s membership has expanded to include Brunei, Cambodia, Laos, Myanmar, and Viet Nam. ASEAN members are now collectively Viet Nam’s third-largest export market after the United States and the European Union, and its second-largest source of imports after China.

Meanwhile, Singapore, Malaysia and Thailand are among the top 10 foreign investors of Viet Nam. ATTRACTING FOREIGN VISITORS In July this year, Viet Nam hosted the 13th International Travel Expo in Ho Chi Minh City. The tourist industry makes up a large part of the economy as well as providing a platform to highlight Vietnamese culture.

The country is trying to follow a community-based tourism model.

One agency, Viettravel, has established free walking tours in Ho Chi Minh City and Saigon and has plans to expand to other prominent towns, including Hanoi, Da Nang, Hoi An and Hue. Viet Nam also has a number of UNESCO World Heritage sites that are useful tourist magnets.

In August this year, the number of international arrivals to Viet Nam was estimated at around 1,229,163. This reflected an increase of 18.5 percent over the month of July and up 35.1 percent over the same period last year. Total international arrivals in 8 months reached 8,472,379 arrivals – an increase of 29.7 percent over the same period last year.

IT’S FULL SPEED AHEAD

Along with a rapidly growing population, real estate opportunities within Viet Nam are also becoming increasingly attractive.

Viet Nam has yet another joker up its sleeve for investors – a large and predominantly young workforce.

Vietnam Briefing says that for 2020, the government has set a target of USD 3,000 per capita. This follows the general trend within Viet Nam, where the middle class is slowly becoming more populous.

Standing at 16 million in 2014, the population within or above the middle class is expected to double to 33 million by 2020, according to the Boston Consulting Group.

Combine this with a young and large workforce that is increasingly becoming more high-skilled, there are no signs of Viet Nam slowing down in the foreseeable future.

Ultimately, Viet Nam has many cards to play to facilitate the rise of its economy. Investors’ interests might be piqued after reviewing how full Viet Nam’s hand really is.

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