"Vietnam is designated one of UKTI's High Growth Markets. The economy is continuing to expand. In 2010 industrial production rose by 16.1% (January 2011). Inflation remains a concern at 12.2% (January 2011) but the fundamentals of the economy remain strong .
Vietnam has just reached Middle Income Status (US$1,000 per capital) largely as a result of continued high growth, the GDP growth in 2010 was 6.7% and an average of 6.9% over the past five years. Bilateral trade has grown strongly. The UK is the 17th largest investor in Vietnam with a total of US$2.151 billion. UK exports of goods & services in 2009 were £326m an increase of 18% on 2008 (£277m).
What are the Opportunities?
Principal UK exports are:
· Power generating machinery and equipment
· General industrial machinery and equipment
· Medical and Pharmaceutical products
· Professional and scientific instruments
There are considerable opportunities in the following sectors:
· Infrastructure (power, transport, telecoms)
· Services (banking, legal, accountancy)
The information provided above is merely an overview; should you require further details you can obtain comprehensive international trade assistance from UK Trade and Investment (UKTI). To find out more information about this country, visit the UKTI Vietnam web page.
If you're interested in attending an event relating to this country or the possibility of joining a trade mission, please visit the UKTI East Midlands website. If you would like to speak to a UKTI International Trade expert about doing business with this country, please call the UKTI East Midlands office on 01332 826394.