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There is currently a lot of interest in renewables, in Vietnam, and in particular Solar energy projects. There have been over 70 licenses issued recently for solar energy projects and many of these are in Ninh Thuan Province, where there are over 140 projects licensed.. The interest has been generated by the Feed in tariff incentive granted by the Vietnamese Government approved some time ago setting a tariff of US$ 9.35 cents per KWH for those projects operational by June 2019, with a 20 year term.

The companies subject to the Cyber Security Law are domestic and foreign companies providing services to customers in Vietnam over telecom networks or the internet such as social networks, search engines, online advertising, online steaming/broadcasting, e-commerce websites/marketplaces, internet-based voice/text services (OTT services), cloud services, online games, and online applications.

Explore the opportunities to trade beyond domestic markets and identify current and future trends.

Explore the opportunities to trade beyond domestic markets and identify current and future trends.

Gambling has long been a taboo with the Communist Party in Vietnam and the licensing of Casinos has been very strictly controlled and to date are only open to foreigners, as are electronic gaming centres, which generally operate from 5 star hotels.

Vietnam boasts a labour force of almost 60 million workers, growing by over 1 million per annum. 35% of these are generation Y born between 1976 and 1995. Almost 95% of the labour force are literate and over 88%x were enrolled in secondary school, whilst 5% are proficient English and over 10% are considered highly skilled. Of this work force 42% are engaged in the agricultural sector, 35% in the service sector and 23% in industry.

Chairman's Insights Vietnam's productivity

Vietnam’s GDP growth in the first quarter of 2018 reached an 11 year high, at 7.38%, and exceeded current year forecasts, in a quarter which is historically the lowest quarter for GDP growth largely because the first quarter includes the main public holiday for the Lunar New Year

Danang has been one of the most successful cities in Vietnam, in developing and growing a tourism industry and is looking at how to successfully develop the City from now to 2035. Tourism currently contributes 23% of GDP and in the first quarter of 2018 Danang has seen its foreign visitor arrivals increase 69% yoy.

Vietnam’s under invested Agricultural Sector

Military relations with USA seem stronger whilst trade relationships seem under threat!

Vietnam is on a journey and there will continue to be humps and bumps in the road, but today Vietnam is on almost everyone’s radar screen and if it isn’t you should be asking why.

2017 saw the lowest addition to the country’s oil reserves in the country’s history with an addition of only 4 million tonnes against a target for the year of 10-15 million tonnes.

The Government continues to assert its intention to improve the business environment with the reduction in the requirements for inspections licenses and sub-licenses.

The year 2017 certainly ended with a bang, with an amount of US$ 5 billion going straight into the foreign exchange reserves as a result of the sale of 53% of the Governments holding in brewing company SABECO, to Thai Beverage.

Whilst the Government continues with its policy of enabling the business environment with a reduction in bureaucracy and the number of licenses and approvals the economy has overall shown some really great results.