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Vietnam Overview

Vietnam Overview

About
Vietnam Market

Vietnam finished 2021 with a 2.58% GDP growth rate, despite witnessing one of the harshest COVID lockdowns in the world during the second half of 2021. Yet, the nation is also one of the rare economies to post two consecutive years of growth since the start of COVID-19 globally.

98,83M
Population
55,8M
Employed people
$404B
GDP, grew 2.58% in 2021
2
Stock exchanges
$31.15B
FDI registered in 2021
$2,785
GDP per capita

Digital population

Thanks to the high penetration rate of both the internet and smartphones, Vietnam is home to a population that can only be described as ‘internet savvy’.

61.37M
Number of smartphone users
82%
Vietnam online banking penetration rate
120 mins
The average amount of time using Youtube
76,95M
Total number of social media users
58.8%
Vietnam’s broadband penetration rate
73.2%
Vietnam Internet penetration rate
$201B
Estimated mobile payment transaction value

Vietnam Startup Ecosystem

3,800 startups

Including three unicorns, or companies valued at over $1B, Axie Infinity, VNG, VnPay and MoMo. There are 11 others valued at more than $100 million each

$1.3 billion

Was injected in Vietnamese startups in 2021, according to the National Agency for Technology Entrepreneurship and Commercialization Development

Majority of the investments

Comes to fintech, e-commerce healthcare, etc. Many use new technologies such as AI, Big Data and Blockchain

An attractive investment destination

By 2021, Vietnam was ranked 44th out of 132 countries in the Global Innovation Index and 59th out of 100 regarding the startup ecosystem. It also came third in the list of most-active startup ecosystems in Southeast Asia.

01

Strategic location

Middle of SEA. Short-distance flight to East Asia (Japan, Korea)

04

Economy

Among the fastest growing economies in ASEAN

02

Talents

Golden age structure with young population

05

Large market

With increasing purchasing power & emerging middle class

03

Global openness

Participation in strategic trade agreements across the world

06

Competitive costs

Competitive labour costs and increasing productivity