Vietnam stands as a key country in the ASEAN region. Located advantageously near China and to be important shipping lanes, with a growing population and middle class, Vietnam is a dynamic and growing country that is increasingly attractive to foreign businesses looking to expand their operations in Asia.
There are a number of key advantages that make Vietnam stand out from the rest of Asia. Unlike many other countries in the region, Vietnam’s government is very stable and committed to seeing the country grow. Consumer confidence is strong and improving. Labor costs are currently 50 percent those of China and around 40 percent of those reported in Thailand and the Philippines. The country’s workforce is seeing an annual increase of 1.5 million people, and its workers are young and, increasingly, highly skilled.
In order to start importing business from Vietnam market, you should get some basic understanding about our country as below:
1. Vietnam’s Name
Vietnam is officially known in English as the “Socialist Republic of Vietnam”, sometimes abbreviated as SRV. The full name in Vietnamese is Cong Hoa Xa Hoi Chu Nghia Viet Nam.
2. Vietnam’s Location
Vietnam is part of South East Asia, bordered by ocean on the west and south, with China to the north and Cambodia and Laos to the west. Vietnam is about the size of New Mexico (329,560 sq km), but shaped in a long, narrow “S”.
3. Vietnam’s Weather
Vietnam has a hot tropical climate in the south and a monsoon climate in the north. The hot, rainy season lasts May to September and warm, dry season is October to March. Because of the characteristic of the weather, Vietnam has so many special type of tropical fruits to export such as Vietnam dragon fruit, seedless lime, passion fruit and so on.
4. Vietnam Politics
Vietnam is a communist country. Religion, speech, press and other aspects of society remain under central control. Since Vietnam’s “doi moi” (renovation) in 1986, Vietnam’s economy and, to some extent, policies have become increasingly modernized and less restrictive.
5. Vietnam’s Three Regions
Vietnam is traditionally divided into three regions (North, South and Central) based on years of history, occupation and geopolitical settlement. These regions are known among Vietnamese for differences in dialect, food, history, culture and temperament of the people.
6. Vietnam Cities and Provinces
Hanoi is Vietnam’s capital and the location of Vietnam’s central government. Ho Chi Minh City (aka Saigon) is the second largest city and is a leader in business.