Introduction

Vietnam has seen solid economic growth for years and that trend – along with the opportunities that accompany it – will continue at least through this decade. For various economic, political, cultural, and technological reasons, Vietnam has emerged as a hub of fast-paced activity that shows no signs of slowing down. As one of the few countries in the world to see GDP growth during the first year of the Covid-19 pandemic, Vietnam has demonstrated that it is a new land of opportunity.

This report offers an introduction to Vietnam’s future as a potential market for Singapore firms. It begins with an overview of the country’s business environment, then explores some opportunities and challenges in the market, before turning to some recommendations based on discussions with Singapore firms operating there now. The goal is to provide readers with a macro perspective as well as on-the-ground views, to complement your market research and any other preparatory studies you are doing before deciding whether to venture into Vietnam.