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Vietnam’s November 2024 Economic Momentum: High-Tech Investments, Trade Expansion, and Infrastructure Innovation
Innovation continues to drive Vietnam’s growth in November 2024, strengthening its position as a global investment hub. High-tech advancements, enhanced logistics, and sustainable development projects in key regions like Ho Chi Minh City, Dong Nai, and Binh Duong are leading this transformation. Strategic developments, including innovative research hubs and infrastructure expansions such as Danang’s Free…
Key City Business Centers in Vietnam: Opportunities for Multinational Corporations
Key city business centers in Vietnam are rapidly transforming, fueled by the country’s stable political environment, attractive government incentives, and competitive labor costs. These urban hubs play a pivotal role in Vietnam’s emergence as a leading business destination in Southeast Asia. In this article, we have discussed the major city business centers in Vietnam and…
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Medical Devices Compliance in Vietnam: A Case Study from Medical Equipment Distribution Companies
As healthcare spending in Vietnam increased over the years, the need for medical devices compliance has grown. By 2030, Vietnam’s healthcare expenditure will reach US$33.8 billion, up from US$16.1 billion in 2017. In 2025 itself, the forecasted spending is US$23.3 billion. Earlier, the World Bank had predicted that the Vietnamese healthcare market will increase threefold…
Foreign Investment Boosts Growth in Non-Life Insurance Sector in Vietnam
Vietnam’s non-life insurance sector is witnessing significant growth, fueled by favorable regulatory changes and rising foreign investments. The introduction of the 2023 Insurance Business Law, which allows 100% foreign ownership, has made the market more appealing to international insurers. This article explores the effects of these regulatory reforms, assesses recent market performance, and provides insights…
How to Set Up a Vietnam Travel Agency: Key Steps and Lessons from the Best Travel Agencies in Vietnam
Travel agency in Vietnam is thriving as the tourism and hospitality sector rapidly expands, driven by the country’s strategic geographic advantages and rich cultural heritage. Since the COVID-19 pandemic, Vietnam has seen a notable resurgence in tourism, attracting foreign visitors eager to explore its unique landscapes and vibrant traditions. Over the past four years, travel…
Future-Ready Digital Infrastructure Strategy Approved for 2025 in Vietnam
Vietnam’s Digital Infrastructure Strategy 2025 is set to transform connectivity and digital inclusivity across the country, with goals like 99% high-speed internet access, 5G deployment nationwide, and advanced data centers for enhanced global connectivity. The Ministry of Information and Communications (MIC) has granted several licenses for 5G technology and aims to increase digital enterprises from…
Vietnam Has Some of the Lowest Labor Costs and Average Business Setup Expenses in Asia
Vietnam has become a top economic hub in Asia, leveraging its strategic location, low labor costs, and government reforms that lower operating expenses. The retail sector, in particular, has attracted international brands aiming to cut costs. With labor costs more affordable than in other countries, many of these companies are setting up factories in Vietnam…
Unlocking Opportunities and Overcoming Challenges in the Global Semiconductor Industry
The semiconductor industry powers modern electronics, from smartphones to AI systems. These tiny semiconductor components are the backbone of today’s digital world, enabling the functionality of countless electronic devices and driving innovation across various sectors. With a focus on meeting the rising global demand for semiconductor solutions, Vietnam is poised to become a major semiconductor…
Exit Visa Vietnam: Essential Guide to Entry and Exit Forms for Foreign Investors
Foreign investors and workers in Vietnam often rely on exit visas when leaving the country urgently, whether to reunite with family or pursue new job opportunities. Recent updates to Vietnam’s visa entry and exit rules have imposed stricter limits on overstays, making exit visas essential for those who have overstayed or lost their passports. Many…
Decoding Import and Export Industries in Vietnam for Foreign Investors
Vietnam’s import and export industries are vital to its economic engine, contributing significantly to national growth. This article dives into major export sectors like electronics, textiles, and coffee, and crucial imports such as machinery and crude oil. Discover how these industries drive Vietnam’s trade and economic development. Investing in Vietnam’s Import and Export Industry? Check out…
Import a Car to Vietnam: How Do You Do It and How Much Does It Cost?
To import a car into Vietnam as a foreigner, you’ll need to navigate specific regulatory requirements and comprehensive documentation to meet Vietnamese customs regulations. This process can be complex, as the Vietnamese government mandates strict guidelines to prevent customs issues and ensure compliance. In this article, we provide a clear guide on car import options…
