MARKET BRIEFING –VIETNAM

Vietnam International Industrial Fair 2012	Hanoi-Capital of Vietnam	Ho Chi Minh City is the largest city in Vietnam

OVERALL ECONOMIC SITUATION

Vietnam is located in the eastern Indochina Peninsula. It borders China in the north, Laos in the west and Cambodia, and the South China Sea in the east and south. It is rich in diverse mineral resources, including coal, iron, titanium, magnesium, chromium, aluminum, tin and phosphorus, with relatively larger reserves of coal, iron and aluminum. Vietnam is a developing country and implemented reform and an opening up policy in 1986. After more than twenty years, the economy has maintained relatively fast growth with an increasing total economic volume and a balanced tertiary industry structure. It is becoming increasingly liberal with its contact with the outside world, with a state-owned economy as the mainstay and simultaneous development of diverse economic components. Vietnam maintains trade relations with over 150 counties and regions around the world. External trade has been growing at high-speed in recent years, playing an important role in fostering economic development.

BUSINESS OPPORTUNITIES

Industry
The industrial production index increased by 6.8% in 2011 of which the mining industry decreased by 0.1% and manufacturing industry rose by 9.5%. Major products include coal, crude oil, natural gas, liquefied gas and aqua products.

Agriculture
Vietnam is a traditional agricultural country with an agricultural being the mainstay of 75% of the total population. Agricultural land and forests cover 60% of the total land area. Major food crops include rice, corn, potatoes, sweet potatoes and cassava. Major cash crops are coffee, latex, pepper, tea, peanut and sugar cane.

Service Industry
The service industry has shown dramatic growth in recent years. The growth of the industry recorded an increase of 6.99% in 2011.

Tourism
Vietnam is rich in tourism resources, various tourist attractions such as Ha Long Bay have been listed as UNESCO World Heritage Sites. The tourism industry has developed quickly in recent years resulting in prominent economic results. In 2011, the country received 3.65 million tourists, showing a rise of 17.4% year on year. Tourists are mainly from Australia, Cambodia, China, France, Japan, Korea, Malaysia, Taiwan and the US. Major tourist attractions include Hoan Kiem Lake in Hanoi, tomb of Ho Chi Minh, Temple of Literature, Ba Dinh Square, Reunification Palace in Ho Chi Minh City, port of Nha Rang, Dam Sen Park, Cu Chi Tunnels and Ha Long Bay in Quảng Ninh Province.

Source: CIA-The World Factbook, https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html

FOREIGN TRADE FROM 2008 TO 2012

Major Export Commodities:clothes, shoes, marine products, crude oil, electronics, wooden products, rice, machinery
Main Import Commodities:machinery and equipment, petroleum products, steel products, raw materials for the clothing and shoe industries, electronics, plastics, automobiles

Source:
1. CIA-The World Factbook, https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html
2. Index Mundi-Country Fact, http://www.indexmundi.com/vietnam/

Source:https://www.cia.gov/library/publications/the-world-factbook/geos/vm.html

MAINLAND CHINA – VIETNAM

Source: Ministry of Commerce of the People’s Republic of China,http://yzs.mofcom.gov.cn/static/date/g/date.html/

MACAO-

VIETNAM

BILATERAL TRADE 2012

Source: The Statistics and Census Service,http://www.dsec.gov.mo/

SOURCE:

1. The Ministry of Foreign Affairs of the People’s Republic of China
http://www.fmprc.gov.cn/chn/default.htm
2. The Ministry of Commerce of the People’s Republic of China
http://zhs.mofcom.gov.cn/
3. The Economic and Commercial Counselor’s Office of the Embassy of the People’s Republic of China in the Socialist Republic of Vietnam
http://vn.mofcom.gov.cn/
4. The Statistics and Census Service
http://www.dsec.gov.mo/
5. The World Factbook
http://www.cia.gov/

MAJOR WEBSITE RECOMMENDATIONS:
http://news.gov.vn/