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Vietnam is an emerging economy in the SouthEast
Asian region, with one of the fastest growing economy in
Asia, only second to China, with India in third place,
with annual growth set at 8.0%, over the past five years.
Vietnam officially joined the
WTO on January 11, 2007.
In the past 5 years, Vietnam has been in the process of
transforming from a central-planned socialist economy of
heavy industrial and primary resource development to value-added
services and goods production, therefore encouraging domestic
and foreign investment, creating a market economy and raising
the overall standard of living for it's people.
There are 85,262,356 (July 2007 est.)* Vietnamese people
striving towards a better life and demanding quality services
and products. The perseverance and the well known will of
the people will prevail in creating an attractive marketplace
for all interested: investors, service/product outsourcers,
producers searching for very inexpensive and skilled workforce.
*Source CIA WorldFactBook site
Economic advantages of doing business in Vietnam
- highly literate (over 90%) of the population
- hard,
eager work force: competitive working environment
- 60% of the population is under 35 years old
- very low attrition rates regarding employment
- low wages: salaries are 30 to 50% lower than India
& China
- low geopolitical risks: political stability
- government’s pro-business policies with decreasing
influences in local markets, providing comprehensive
incentives for foreign investors
- resource abundance- largely unexplored
- Travel & Tourism, Real Estate (commercial and
residential) construction sectors are in early stages
of development
- ample opportunities in most industries for
first stage investors and early market entry
For
more market information on Vietnam...
Highlights of digi-escape's Vietnamese
Website Promotion services:
- Online market research
- English to Vietnamese web localization and translation
- Vietnamese language web site development
- Web site promotion: Search Marketing (SEM & SEO)
- Customer/client support in Vietnamese
To learn
more about our web site promotional services for Vietnam Click
here
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Vietnamese Women
will lead Online Commerce
These retail consumer buying trends were identified by women earning incomes
that are rising annually, trends that could become online shopping activities:
1 - Health & Wellness products
2 - Fashion and Beauty products
3 - Personal Hygiene products
4 - High Tech Consumer products
5 - Travel Services*
* Online travel service market expected to grow by 200% annually until 2011.
Source: EuroMonitor
PC's & Mobile Phone - Phenomenal Growth
With 45% of households in Vietnam owning Personal Computers, and the growth in
mobile phone industry has exceeded even the most optimistic market forecasts,
growing at over 270% annually.**
Vietnam
is on the verge on becoming a substantial online market in South East Asia.
Vietnam's Internet Access per capita, is larger
than Australia, Hong Kong, Malaysia, Philippines, Singapore,
Taiwan and Thailand.**
**Source
ADMA Digital Marketing Yearbook Survey - April 2007
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