Is Vietnam a growing market to expand?

Vietnam has increased at a compound annual rate of 5% in real terms during the previous 20 years, 1.7 times faster than the average globally. Vietnam's GDP growth remained constant at 2.9% even after the pandemic in 2020, without declining. 

  The entire Labor force in Vietnam is equal to one-fifth (1/5) of all workers in Europe or the total combined Labor force of France and Spain. Vietnam's working population has approximately 100 million people, up from 75 million in 2021.

  Both domestic and foreign corporations are establishing business entities in Vietnam due to the country's fast-expanding potential. The number of businesses registered in Vietnam grew substantially by 95% from 2014 to 2020. 

Learn more about the total increment of new business registered in Vietnam from the World Bank report.