Vietnam is the world’s 14th most populous country, and the eight-most populous Asian country.
- Young workforce : 60% of its 90-million-strong population is under 35 years old.
- Emerging middle class : Rapid increase in disposable incomes and global connectivity and
- Rich natural resources : Agriculture and seafood produce, mineral oil and gas reserves
Vietnam has strong Bilateral Ties with Singapore.
The Vietnam Ministry of Planning and Investment ranks Singapore as one of Vietnam’s top 10 investors with cumulative investment of US$30.6 billion as at July 2014. IE Singapore
Vietnam’s GDP Growth Rate is reaching an all time high, expanded 5.55 percent in the second quarter of 2016.
The country’s FDI has been increasing year by year, it reached 4756.50 USD Million in mid 2016.
TOP EMERGING MARKETS OF 2016
(2016GDP growth forecasts)
Liberalising Real Estate
Vietnam has passed a New Housing Law and Real Estate Business Law on 1 July 2015 as an important step in opening up of Vietnam real estate market to overseas investment. The law allows foreigners with valid residence visas to buy up to 30% of a condo or up to 250 houses in a ward with a 50-year lease. In addition, foreign enterprises are allowed to sub-lease the properties that they are renting, and can also acquire and own completed buildings that they are not developing for their own use.
Strong Beneficiary of China Trade
The “Two Corridors, One Circle” is an economic program initiated by Vietnamese Prime Minister to China in 2004 that aims to improve connectivity and economic exchange between Chinese and Vietnamese cities. The two economic corridors are Nanning-Lang Son-Hanoi-Hai Phong and Kunming-Lao Cai-Hanoi-Hai Phong-Quang Ninh while the economics circle refers to the Gulf of Tonkin.
For the first six months of 2015, China remained the largest trade partner of Vietnam; bilateral trade revenue between the two countries reached some US$32.1 billion.
Vietnam is among top eight most promising markets of 2016 with best performing sectors: chemcials and plastics, construction, retail, consumer durables and electronics, etc and among the world’s Top 30 most attractive emerging retail markets since 2008 in the Global Retail Development Index GRDI.
Assessing the prosperity of Vietnam’s retail market, market research companies and experts believe it has great prospects and will record high growth in the years to come. In Asia-Pacific, 75 per cent of total commercial real estate is currently concentrated in five markets: China, Japan, Australia, Hong Kong and Singapore.