Vietnam presents many exiting opportunities for Norwegian companies due to its similar key industries of maritime, aquaculture, oil & gas, energy & environment and ICT. The Vietnamese economy has experienced steady GDP growth of around 6% annually with low inflation. Innovation Norway's office in Hanoi promotes Norwegian commercial interests and provides assistance to companies interested in the Vietnamese market, which has a young and well-educated workforce of over 90 million people. Key sectors of opportunity for Norwegian firms include shipbuilding, aquaculture, energy, oil & gas, ICT, and textiles.

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Vietnam: Exiting opportunities
Vietnam
Vietnam has about the same size as Norway. Being a long and thin country with long coastline, it shares the same key
industries as Norway; maritime, aquaculture, oil & gas, energy & environment and ICT. The population of more than 90
million people is young and well educated. Labor force aged 15 and above is 54,5 million.
Vietnamese Economy
The total GDP is USD 187,5 billion, GDP per capita of USD
2,028 and GDP growth 5,98 % (2014). GDP Growth is
expected to increase the next few years. Inflation is under
control, now 4,09 %.
Norway (through EFTA) is currently negotiating Free Trade
Agreement with Vietnam. The 12th round of the
negotiations took place in May 2015.
Important Sectors in Vietnam
Maritime
Vietnam has a strategic location which makes it a good
place for shipbuilding and ship maintenance. Still
restructuring the shipbuilding industry after the financial
crisis, big plans for developing shipbuilding, fishery sector,
offshore activities and ports.
Aquaculture
One of the largest seafood producers in the world. large
processing capacity. Opportunities within breeding,
technology and services like feed, vaccines, water quality/
treatment etc.
Energy & Environment
Vietnam needs power, and are exploring both conventional,
LNG and renewable. Also there are opportunities within
waste to energy (money), all kinds of water technology and
waste water treatment.
Oil & Gas
The petroleum industry represents some 25 % of state
revenue, and is a central part of Vietnamese economy.
Focus areas where Norwegian companies can contribute is
high tech drilling, development of small, marginal and
brown fields, and IOR/EOR. The need for decommissioning
of existing rigs and platforms will increase.
ICT
ICT industry in Vietnam is booming. Opportunities and
potential for Norwegian companies are within software
outsourcing/offshoring, and modernizing Vietnamese
governmental procedures. Also, ICT as enabler for more
effective industries entails possibilities for business.
Other sectors
Vietnam is the third largest exporter in the world of
handbags and footwear, the fourth largest exporter of
textiles and garments, and the sixth largest exporter of
wooden products. Also, Vietnam has high quality suppliers
of mechanical construction and production, working for
Norwegian businesses.
Innovation Norway Hanoi
Innovation Norway's office in Hanoi is the Commercial
Section of the Royal Norwegian Embassy in Vietnam. This
gives us excellent overview of the big picture in Vietnamese
prospects and opportunities. We are promoting Norwegian
commercial interests and providing assistance to
Norwegian companies that are in Vietnam or wish to enter
the Vietnamese market.
We assist Norwegian companies through the entire export
and internationalisation process, being a strategic adviser,
door opener and problem solver.
Are you thinking about doing business in Vietnam, we are
your gateway!
For further information contact:
Innovation Norway Hanoi
Ole Henaes, Director
Mobile: +47 4641 9614, +84 90 346 3324
Email: ole.henaes@innovationnorway.no
www.innovationnorway.no/vietnam