Vietnam 2025 the next global hub for big players,

1. Vietnam The Next Big Potential Market

2. WHY Vietnam
The region's fastest-growing middle and affluent classes provide the
right demographics for growth and receptivity to U.S. products and
services.
Over the past few years, Vietnam has been actively signing bilateral
trade agreements with countries around the world.
Strong GDP growth is expected to continue in the medium term.
There is a large population of almost 100 million consumers (#15
globally), half of whom are under the age of thirty.
Political stability.

3. Vietnam 360*

4. Vietnam: At a Glance
GDP Growth rate
8.02% (2022)
3.32% (2023Q1)
GDP per Capita
US$3607.23
(2022)
FDI Inflows
US$27.7b (2022)
US$
Benchmark Interest Rate
5.5% (May 2023)
Inflation rate
3.15% (2022)
3.35% (2023Q1)
Ease of doing business
Global rank: 70/190 (2020)
ECONOMIC
INDICATORS

5. Macroeconomic overview | Vietnam has been one of the fastest
growing economies within Southeast Asia
Vietnam has been outperforming its regional peers in terms of GDP growth rate and is
expected to keep up with this momentum in the upcoming years
GDP Growth rate (%annual) - 2020 - 2024F
In 2022, Vietnam achieved economic stability despite global turmoil with decent
economic growth and inflation being under control compared to regional peers
GDP per capita ($US 2015 constant & CAGR from 2017-2022)
Vietnamese households focus on human development, proven by the highest %
spending on education and healthcare than regional peers
As a major agenda in the national development focus, urbanization has picked up
speed to support Vietnam’s ambitious growth trajectory

6. Macroeconomic overview | Vietnam has emerged as a hotspot for
FDI specially manufacturing, with APAC countries as major
contributors
Vietnam, Disbursed FDI (2015 - 5M2023) and 2023 forecast, billion USD
Vietnam has emerged to be one of the most
attractive destinations for FDI in the SEA
region
Set by rapid economic growth and
industrialization, Vietnam’s FDI disbursement
has been accelerating at a CAGR of 6.4% (2015-
2022). The Vietnamese government has taken
proactive steps to foster healthy investment
climate for FDI movements such as
administrative reform, legal and tax incentives.
● Top sectors for FDI disbursement:
Production,
Manufacturing &
Processing
Real estate
activities
electricity, gas,
stream & air
conditioning supply
2 3

7. 1
0
5
0
202
0
202
1
2022
E
2023
F
2024
F
2025
F
-
10
Vietnam was the only one to log real
economic growth in 2020, thanks to its quick
success in curbing the pandemic, whilst other
economic recovery is further delayed by
recurring and prolonged COVID waves
As the global supply chain shift
continues to take place and
manufacturing being the key driver,
Vietnam's export is expected to
exceed most others in the region
Vietnam is on track to sustain its
outperformer position in SEA if
leveraging well its strong growth
momentum
Macroeconomic overview | In the near term, Vietnam is expected to
maintain strong momentum and achieve highest growth forecast
ASEAN-6 Real GDP growth (%), 2020–2025F

8. Macroeconomic overview | Global manufacturers are increasingly shifting production to Vietnam
and SEA due to escalating geopolitics between China and the West

9. Macroeconomic overview | Vietnam will see significant growth in its middle-class and
affluent population in the next 10 years, especially in emerging cities

10. Business environment | Vietnam also offers powerful competitive
advantages in workforce, living environment, and corporate tax treatments

11. Business environment | Investment incentives are also provided to support
economic breakthroughs in many key industries in Vietnam
Industry-based tax incentives in Vietnam
Summary of Prioritized Business Lines and Projects Eligible for Investment Incentives In Vietnam
Class High tech Large scale Social importance
Description: Investment projects in the following sector
categories:
➢ Information technology
➢ Biotechnology
➢ New Material technology
➢ Automation technology
➢ Supporting products for high
technology
➢ Scientific research and development
➢ Software production
Manufacturing projects with a
minimum invested capital of VND
6,000 billion, and which meet one of
the following
➢ Annual revenues of VND 10,000
billion by the fourth year of
operations
➢ Employment of at least 3,000
workers
Manufacturing projects** with a
minimum investment capital of VND
12,000 billion and which utilize certain
technologies.
Investment projects in the
following sector categories:
➢ Education
➢ Vocational training
➢ Healthcare
➢ Culture
➢ Sports
➢ Environmental
Incentives: 10 percent CIT for 15 years*
CIT exemption for 4 years**
50 percent reduction on payable CIT for 9
years
10 percent CIT for 15 years*
CIT exemption for 4 years**
50 percent reduction on payable CIT
for 9 years
10 percent for entire life of project
4 years of CIT exemption**
5 years of 50 percent reduction
on payable CIT

12. Investment opportunities | Future potential growth sectors worth investigating for foreign
investors
SERVICES
IT & DIgital services
2 3

18. Ease of doing business: Legal requirements
Business sectors that foreign investors can access (Decree 31/2021/ND-CP guiding the Law on Investment 2023)(*)

19. Legal and regulatory framework (1/3)

22. LARGEST PUBLIC LOCAL COMPANIES

24. STARTUPS RAISED >US$ 20M

25. MULTINATIONAL COMPANIES

27. TOP 10 MULTINATIONAL COMPANIES IN VIETNAM
Samsung - A major player in electronics manufacturing, with significant investment in production facilities.
Intel - Operates one of its largest assembly and test factories in Ho Chi Minh City.
LG Electronics - Involved in various sectors including electronics and home appliances.
Nike - Has numerous manufacturing facilities in Vietnam, making it one of the largest employers in the country.
Adidas - Similar to Nike, it has extensive manufacturing operations in Vietnam.
Coca-Cola - A significant player in the beverage market with multiple bottling plants.
Unilever - Engaged in various consumer goods sectors, including food and personal care products.
Procter & Gamble - Produces a wide range of personal care and household products.
Toyota - Involved in automotive manufacturing and assembly in Vietnam.
Nestlé - Operates in the food and beverage sector with several factories and a strong local presence.

28. Viettel Group – A telecommunications giant and a major player in technology solutions, known for expanding
services globally.
Vingroup – Vietnam’s largest private enterprise, with businesses spanning real estate, retail, healthcare, and
automotive manufacturing.
Vietnam Dairy Products JSC (Vinamilk) – The leading dairy company in Vietnam, renowned for both domestic
dominance and expanding exports.
PetroVietnam (PVN) – The state-owned oil and gas group plays a crucial role in Vietnam's energy sector.
Hoa Phat Group – A major player in the steel industry, supplying both local and international markets.
Vietnam Airlines – The national airline that plays a pivotal role in connecting Vietnam globally and regionally.
Techcombank – One of the most profitable banks in Vietnam, excelling in both retail and corporate banking
services.
Vietcombank – Known for its financial stability and a leader in innovation among Vietnamese banks.
VietJet Air – A private airline known for its budget-friendly services and rapid growth across Asia.
Masan Group – A conglomerate with diverse operations in food and beverage, retail, and consumer goods.
Top companies in Vietnam that stand out in 2024

29. Top job portals frequently used by employers and
employees in Vietnam
VietnamWorks: One of the leading job portals in Vietnam, known for professional and
managerial roles. It offers both free and paid listings.
CareerViet.vn: Popular among companies seeking talent across industries, with cost-effective posting
options.
Vieclam24h.vn: A go-to platform for various job levels, offering both free and premium features.
Careerlink.vn: Widely used by both job seekers and recruiters, especially for regional jobs and
international hiring.
Indeed Vietnam: A global platform that performs well in Vietnam by aggregating listings from local job
boards.
Google for Jobs: Free to use, helping employers boost visibility for their job posts.

30. Deck 1 Research Summary
The research was aimed to understand Region/Sector/Industry/Trend
overall. We have demarcated the key skills/business lines booming
and can be targeted.
Post-research I believe our approach should be divided into Phases –
Ph 1 – 100 % Focus on IT & important Startups
Ph 2 – Healthcare & EdTech
Ph 3 – BFSI
* The key is extensive social media branding & invisible selling.

31. TOP RECRUITMENT FIRMS IN VIETNAM
Navigos Search: A market leader with extensive experience, Navigos Search operates Vietnam Works, a well-known
job portal. They frequently organize HR seminars and provide professional recruitment services across industries
Robert Walters Vietnam: This global headhunting firm specializes in mid-to-senior level recruitment across sectors
like finance, tech, healthcare, and supply chain. Their deep local knowledge combined with international standards
makes them a trusted choice for specialized hiring.
Adecco Vietnam: Part of the global Adecco Group, they focus on recruitment and workforce solutions with a strong
local team. They cater to industries like manufacturing, retail, and IT
Manpower Vietnam: Established in 2008, this subsidiary of ManpowerGroup offers recruitment, consulting, and
outsourcing solutions. They primarily serve industries such as banking, insurance, hospitality, and manufacturing
HR channels: This local firm has over 15 years of experience in senior-level recruitment. They offer a range of
services, including talent scouting, mentoring, and networking, with a focus on management roles for major
corporations in Vietnam.
Other top names are, HR2B, NIC Global, J Job, and Corner Stone Global Partners. Talentnet Corporation. In all
the 10 names above manage 28 % of hiring numbers.

32. References