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Doing Business In Vietnam
Overseas investors in Vietnam remain committed to the country and it is not difficult to see why. With the third largest population in South East Asia, after Indonesia and the Philippines, and more than half of the population below the age of 30, Vietnam is a youthful and vibrant country with a developing culture of entrepreneurship, technological awareness and openness to new ideas.
With literacy rates of over 90%, the workforce is vast and well-educated. Employment costs are lower than in neighbouring countries and living standards are rising. Vietnam has made a remarkable recovery over the last few decades.
Vietnam became a member of the World Trade Organization (WTO) in 2007, which helped to secure domestic reforms and was requisite in the country’s progress towards becoming a market-orientated economy.
Vietnam is listed as one of UK Trade and Investment’s 20 high growth markets and the country offers a range of incentives to exporting UK companies. A member of Association of Southeast Asian Nations (ASEAN)and its free trade area, Vietnam is liberalising its economy and is predicted to become one of the top 10 fastest-growing economies within the next ten years.