Located in Southeast Asia, Vietnam is a nation rich in heritage and culture, boasting political stability, social development, and economic prosperity. Are you ready to explore Vietnam's dynamic investment landscape and maximize your returns in 2024? Join us on a journey to discover the limitless potential of one of the fastest-growing economies in the region.

Why Invest in Vietnam?

Vietnam – A rising destination for FDI

Despite navigating complex economic challenges, the Vietnamese economy maintained a positive growth trajectory in 2023. As of 2023, Vietnam's nominal GDP is estimated to be 437 billion USD, growing at 5.05%. This resilience is further evidenced by the significant increase in foreign direct investment (FDI) in Vietnam during the same year. Total FDI reached 36.6 billion USD, a rise of 32.1% from the previous year. There were 3,188 newly licensed projects, a 57% increase year-over-year. Energy, manufacturing, and real estate were the major investment sectors.

This anticipated surge can be attributed to several factors, including Vietnam's:

Robust Economic Growth

Vietnam's economy has been experiencing consistent growth for several years, making it an attractive destination for foreign investors. Experience the exponential growth driven by a robust manufacturing sector, a booming tech industry, and a rapidly expanding middle class.

Strategic Location

Situated at the crossroads of global trade routes, Vietnam offers unparalleled access to key markets in Asia, Europe and America.

Skilled and Competitive Workforce

Vietnam boasts a young and well-educated population, providing a ready pool of talent for foreign businesses.

Investment Incentives

Benefit from a business-friendly environment with attractive incentives, tax breaks, and streamlined regulations for foreign investors. The Vietnamese government has implemented a number of policies and reforms to attract foreign investment, creating a more business-friendly environment.

Unveiling Sectoral Potential

Explore the promising landscape of investment opportunities in Vietnam as we unveil its sectoral potential. Delve into the dynamic sectors driving economic growth and discover why Vietnam is an enticing destination for savvy investors.

Industrial Manufacturing

Industrial manufacturing hubs are powering Vietnam's economic growth and modernization. They create employment, accelerate technology adoption, and generate diverse products for local use and global markets. These hubs are significant magnets for foreign investment, boosting the nation's overall development. Discover more in the report. The formation and development of industrial clusters are driving Vietnam's economic industrialization and modernization. These clusters not only create more jobs, but they also foster a culture of rapid technology transition. Additionally, they produce a wide range of goods for both domestic consumption and export, attracting foreign capital and contributing to overall socio-economic development.

Consumer Markets

2023 marked a return to normalcy for Vietnam's retail industry, with e-commerce maintaining its upward trend. As the economy recovers and inflation is controlled, household spending is set to increase significantly in 2024, enhancing consumer confidence.


Vietnam's healthcare sector has expanded rapidly, with both public and private hospitals seeing steady growth. This trend, particularly in the private sector, is driven by a growing middle class and aging population seeking specialized care. The pharmaceutical market also shows strong expansion due to population growth, increased healthcare awareness, and rising chronic disease rates. However, Vietnam heavily relies on imported pharmaceuticals (55%) as domestic research and manufacturing capabilities lag behind international standards.


Vietnam dominated Southeast Asia's digital boom in 2023, with its digital economy surging 19% to US$30 billion. This impressive growth, projected to outpace GDP by a factor of three until 2025, signifies Vietnam's economic resurgence. However, businesses grapple with adapting to new regulations in areas like tax, money laundering prevention, and data privacy.

Real Estate

The supply of new condominiums in Hanoi and HCMC decreased sharply in 2023, with only 13,000 and 8,700 units added. The Vietnamese government responded with Official Dispatch No. 993/CD-TTg, aimed at increasing real estate lending and reducing home loan interest rates. These efforts have led to positive results. This highlights the government's commitment to stabilizing the real estate sector.

Energy & Utilities

Vietnam is prioritizing renewable energy, aiming for a significant increase to 30.9-39.2% of its energy mix by 2030. With full commitment to its Just Energy Transition Partnership pledges, this target could even reach 47%. By 2050, renewables are projected to soar to 67.7-71.5%, with coal eventually being phased out entirely. Biomass and ammonia are expected to take over as fuel sources, marking a significant shift towards clean energy.

Financial Services

In 2023, KPMG conducted a survey with 142 banking CEOs across the Americas, Europe and Asia (60% from the US, UK, Canada and Germany, with 71% hailing from organizations with revenues from US$0.5-9.99 billion. It shows that Disruptive technology, cyber crime and cyber security made it to the top 3 greatest concern for Bank CEO’s. With the rise of challenger banks, fintech, and non-financial institutions, traditional banks are investing heavily in digital capabilities to remain relevant).


The European Union's Carbon Border Adjustment Mechanism (CBAM), the world's first carbon border tax, aims to reduce carbon emissions by addressing "carbon leakage". The introduction of CBAM is likely to affect Vietnam’s exports, especially plastics, iron, and steel.

Investment environment in Vietnam

Despite global economic shifts and political uncertainties, Vietnam remains a top investment destination in Southeast Asia. Its strategic location, abundant resources, and competitive workforce attract significant capital inflows. A booming consumer market and untapped sectors further entice investors. While recent years saw some hesitation, specific regions and industries continue to shine. In fact, 2023 witnessed a remarkable surge in FDI, reaching US$36.6 billion – a 132% increase year-on-year. This growth reflects both increased project numbers and registered capital. The Vietnamese government's proactive efforts to improve the investment climate further solidify the country's commitment to attracting foreign investment.

On 29 November 2023, the National Assembly passed the Resolution 110/2023/QH15 introducing Global Minimum Tax (GMT), which took effect on 01 January 2024. While this might seem like a hurdle for businesses, experts believe it's not a major concern. Multinational corporations prioritize factors beyond tax rates, such as government support. Hoang Thuy Duong of KPMG in Vietnam highlights that high-tech, electric vehicle, and green energy companies are especially interested in additional government incentives to invest in Vietnam.

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