The recent U.S. Commercial Service webinar: Doing Business in Vietnam: Current Market Drivers, highlighted several unique features of the economic environment of Vietnam including:
- A strong, growing market – and the fastest growing U.S. trading partner
- Numerous positive and growing bilateral relationships with various countries
- Good medium term as well as long term market drivers
- Strong affection for U.S. products and services
Several of the market drivers reviewed in the webinar included: foreign investment, industrialization, young and large population (26% are under 14, 70% born after 1975), urbanization, emerging middle class, and a pent up demand for infrastructure. Clearly, there are challenges as well, such as a 22% rate of inflation, significant bureaucracy/administrative issues, and the legal system is relatively new.
U.S. companies seeking investments and partnership opportunities in Vietnam should look closely at both current prospects in the following industries:
- Hardware/Software and High Tech
- Infrastructure, particularly involving the airport system
- Education and Training
- Consumer Products/Franchising
And growing prospects in these areas:
- Health Care
- Environmental Technology – Energy
- Industrial Machinery
For those companies considering participation in the upcoming Mountain States Vietnam Trade Mission, sponsored by Zions Bank, World Trade Center Utah, Governor’s Office of Economic Development and the U.S. Commercial Service – a wise decision would be to utilize the U.S. Commercial Service Gold Key Services while on the trade mission.
Gold Key Services (for a very reasonable fee), can provide pre-screened appointments arranged before you go overseas to help you find potential trade partners, agents, distributors, sales representatives and business partners.
Spend your time doing what you do best — managing your company. Let the U.S. Commercial Service arrange business meetings with pre-screened contacts representatives, distributors, professional associations, government contacts, and/or licensing or joint venture partners.
The Gold Key Matching Services offer:
- Customized market and industry briefings with USCS trade specialists
- Timely and relevant market research
- Appointments with prospective trade partners in key industry sectors
- Post-meeting debriefing with trade specialists and assistance in developing appropriate follow-up strategies
- Help with travel, accommodations, interpreter service, and clerical support
For more details on the upcoming Mountain States Vietnam Trade Mission including dates, costs, benefits, and agenda, see the below flyer (pdf).