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Vietnam fact sheet

One of the fastest growing economies in Southeast Asia, with consistent strong growth. Vietnam's young population is key to its economic growth in the coming years.

About Vietnam

102.8 million

102.8 million

Population size

31.9 years

31.9 years

Median age




Vietnamese dong (VND)

Vietnamese dong (VND)

Currency unit



Internet penetration rate



Mobile penetration rate

Further resources

Economic zones
  • 326 State-Supported Industrial Parks
  • 17 Coastal Economic Zones
  • 3 Hi-Tech Parks

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

  • Incentives granted are based on regulated encouraged sectors, locations and size.
  • Preferential incentives vary from 10 per cent, 15 per cent, and 17 per cent and last for 10 years, 15 years or the whole investment period.

Large Manufacturing Projects Incentives

  • Corporate Income Tax (CIT) rate of 10 per cent applicable for 15 years.
  • Large manufacturing projects with investment capital of at least VND 6,000 billion being disbursed within 3 years from the date of investment licensing, and no later than 3 years from the year generating revenue, meeting one of the following conditions:
    • having at least 3,000 full-time employees or;
    • making at least VND 10,000 billion in revenue per year

Special preferential investment projects

  • CIT rate from 5 to 10 per cent applicable for 15 to 37.5 years.
  • CIT exemption duration not exceeding 6 years.
  • Period of reduction of 50 per cent of preferential CIT not exceeding 13 years.
  • Special preferential investment projects can apply for the relevant incentives if either criteria 1 or criteria 2 are met:
    • Criteria 1: Investment projects to establish innovation centres or research and development (R&D) centres with total investment from VND 3,000 billion or; National Innovation Centre (NIC) established under the Prime Minister’s Decision.
    • Criteria 2: Investment projects that have a total investment capital of above VND 30,000 billion, with at least VND 10,000 billion being disbursed within 3 years.

World Economic Outlook (October 2021); World Bank; UNESCO Institute of Statistics; International Labour Organization: Global Wage Report 2020–21: Wages and minimum wages in the time of COVID-19; Asian Development Bank; Ministry of Planning and Investment (MPI); Foreign Investment Agency (FIA); Deloitte; RSM

This fact sheet is given on a general basis without obligation and is strictly for information only. Nothing in this fact sheet constitutes accounting, legal, regulatory, tax or other advice. This fact sheet is not intended as an offer, recommendation, solicitation, or advice to purchase or sell any investment product, securities or instruments. Although reasonable care has been taken to ensure the accuracy and objectivity of the information contained in this fact sheet, UOB and its employees make no representation or warranty, whether express or implied, as to its accuracy, completeness and objectivity and accept no responsibility or liability for any error, inaccuracy, omission or any consequence or any loss or damage howsoever suffered by any person arising from any reliance on the information in this fact sheet.

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