Vietnam investment climate

TOP ECONOMIC GROWTH OF SOUTHEAST ASIA

At the Vietnam Business Forum 2018 (VBF 2018), the Prime Minister of Vietnam Nguyen Xuan Phuc said 2018 GDP growth reached 7.08%, the highest level in a decade 2008 - 2018 This is an impressive growth, higher than many countries in the region and the highest since the world economic crisis in 2008. This GDP growth also marks the 1st time Vietnam's GDP growth surpassing China for many years.

QUICK FACTS:

  • Total area: 310.060 km2
  • Population: 97,145,064 people
  • Currency: Vietnamese Dong (VND)
  • GDP: 240 billion USD, Average GDP per capita: USD 2,540
  • GDP growth: 7,08% (2018)
  • Foreign currency reserves: more than USD 60 billion
  • Turnover in trading: USD 470 billion
  • Number of international tourist to Vietnam: 15.5 million people.
  • CPI Index: 3.54% (2018)
  • Labor force: 48.7 million people. In which, male workers accounted for 52.3%
  • Unemployment rate: 3.7 % (2017)

 

Strategic location:

  • Center of Southeast Asia (ASEAN)
  • Important transit point in Asian maritime route through the East Sea, connecting 2 most crowded seaport of Asia which are Singapore – Hong Kong
  • Domestic market >90 million people

 

Infrastructure:

  • 570,448 km of road, in which 24,136km of national road, 816 km of highway
  • 21 airports (9 international airports)
  • 45 seaports in which 2 seaports type IA (international standard gateway port) 12 seaports type I (regional focal point container port)

 

FTA List of Vietnam up to Nov.2018 



No.

FTA

Status

Partner

Valid FTAs

1

AFTA

Valid from 1993

ASEAN

2

ACFTA

Valid from 2003

ASEAN, China

3

AKFTA

Valid from 2007

ASEAN, Korea

4

AJCEP

Valid from 2008

ASEAN, Japan

5

VJEPA

Valid from 2009

Vietnam, Japan

6

AIFTA

Valid from 2010

ASEAN, India

7

AANZFTA

Valid from 2010

ASEAN, Australia, New Zealand

8

VCFTA

Valid from 2014

Vietnam, Chile

9

VKFTA

Valid from 2015

Vietnam, Korea

10

VN – EAEU FTA

Valid from 2016

Vietnam, Russia, Belarus, Amenia, Kazakhstan, Kyrgyzstan

Signed FTA but not valid yet

11

AHKFTA

Signed in 11/2017

ASEAN, Hong Kong (China)

12

CPTPP

Signed in 3/2018

Up to 11/2018 there are 7 countries approved the CPTPP, hence CPTPP shall be officially effective on 30/12/2018 with these 7 coutries

Vietnam, Canada, Mexico, Peru, Chile, New Zealand, Australia, Japan, Singapore, Brunei, Malaysia

FTA which finished the negotiation but not yet sign

13

EVFTA

Finished the negotiation on  2/2016

Vietnam, EU (28 members)

FTA under negotiation

14

RCEP

Start the negotiation on 3/2013

ASEAN, China, Korea, Japan, India, Australia, New Zealand

15

Vietnam  – EFTA FTA

Start the negotiation on 5/2012

Vietnam, EFTA (Switzerland, Norway, Iceland, Liechtenstein)

16

Vietnam – Israel FTA

Start the negotiation on 12/2015

Vietnam, Israel

Source: WTO Center and Integration

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