Vietnam's young population – 70 per cent of its people are under 35 years of age – will be key to its economic growth in the coming years. The country has made great strides in economic progress and infrastructure, with over 45 million people lifted out of poverty between 2002 and 2018. Its geographic location and proximity to its Southeast Asian neighbours – and China – have made Vietnam a viable hub for investment, as evidenced by strong FDI inflows surpassing US$38 billion in 2019.
Population size
Median age
Capital
Currency unit
Internet penetration rate
Mobile penetration rate
US$5,212
GDP per capita projection
(Current prices, 2025)
6.6%
Real GDP growth projection
(Annual per cent change,
2020 & 2021)
BB
S&P global ratings
57.8 mil
Total labour force (2020)
95%
Literacy rate
VND6,714,500
Nominal wage (2019)
20%
Corporate tax
80
Number of DTAs
0%
Dividend withholding tax
5%
Interest withholding tax
20%
Capital gains tax
Regulated
FX control
Exports US$258 bil |
Imports US$258 bil |
|
|
Based on 2019 data
Over the years, the Vietnamese Government has pursued strategies to join several free trade agreements such as the Comprehensive Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam (EVFTA), in the hopes of attracting exporting companies to produce in Vietnam.
Corporate Tax Incentives
Large Manufacturing Projects Incentives
Special preferential investment projects
Sources: UOB Global Economics & Markets Research, Central Intelligence Agency’s The World Factbook, World Economic Outlook (October 2020), World Bank, UNESCO Institute of Statistics, Asian Development Bank, Ministry of Planning and Investment (MPI), Foreign Investment Agency (FIA), Deloitte
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