Heart of South East Asia
Vietnam is located right next to the East Sea – a commercially important “link bridge” on the world maritime map, of the 39 maritime routes currently operating in the world, there are 29 routes passing through the East Sea territory. Of the 10 largest maritime routes in the world, the South China Sea region has one route passing through and 5 related routes, on average, 250-300 ships travel through the East Sea per day. In terms of strategic location, security, maritime and economic transport, the East Sea is very important for many countries in Asia in particular and the world in general.
Global Production Base
Vietnam is located in the centre of Southeast Asia. This is a great advantage in economic development and exchanges with other countries in the region. Located on the Central India peninsula, a few countries adjacent to the East Sea, Vietnam has become a gateway of Laos, Cambodia, Myanmar and Thailand via maritime routes. Especially when the South China Sea is the crossing point of international maritime routes, this will be a great advantage in economic development and regional exchanges. From Vietnam, you also find a way to reach Singapore – Asia’s dragon within 2 hours. Being China’s neighbour, China is the largest market in the world manufacturing and high-tech industries drive economic development in Vietnam.
Alternative Option Investment
The output values of many Vietnamese products and industries, such as semiconductor, optoelectronic, information, and communication products account for more than 25% of the Asia Pacific market. Vietnam is invested by very big corporations such as LG, Samsung to set up production plants, from which products are exported to all over the world. A series of investors also came together to join the chain of production and supply of goods. Agriculture and tourism are also a strength of Vietnam. Investors are tending to move from heavy industry to agriculture, tourism and services because Vietnam has numerous islands and land and tourism resources.
Effect of Vietnam FTA
Vietnam has 16 Free Trade Agreements (FTAs) that have been or are being negotiated, helping to open the door of more than 60 economies, including 15/20 countries of G20. With a strong Supporting Industry, Vietnam is an ideal environment for investors.
In conclusion, the international ranking reports show that Vietnam’s business environment remains as excellent as it is now. Looking toward the future, Vietnam will continually create a better, friendlier environment, more conducive to business.