Sourcing From Vietnam-Analyse the Present Business Situation in Vietnam

1
Analysing the Present Business Situation in
Vietnam

• In Vietnam, due to liberalization and
  improvement in social policies, economic growth
  has increased and poverty rates have gone down.
  Since 1993, Vietnams economy has grown over 5
  per cent each year.

2
Importing Goods From Vietnam

• Vietnam is the 28th largest export economy in
  the world and the 93rd most complex economy.
• Economic reforms eventually resulted in WTO
  accession in 2007, and a growing number of
  foreign traders have turned to importing goods
  from Vietnam ever since.

3
Rules and Laws

• What has further encouraged importing from
  Vietnam, is that under Vietnamese laws, it is not
  required for a company to have an import/export
  license, if they intend to set up a trading
  company.
• However, a foreign investor must register with
  the Department of Planning and Investment (DPI)
  in order to be able to conduct import/export
  business.

4
Can you afford to import?

• Companies that intend to grow their current
  business processes in order to engage in
  import/export undertakings must follow the
  processes for adjusting their Investment
  Certificates.
• Exemptions to this duty, include goods in
  transit, goods exported to a foreign country from
  a non-tariff zone, and goods passing from one
  non-tariff zone to another.

5

• Vietnam was classified by the World Bank as a
  lower middle-income country in 2009. As the
  Vietnamese economy slowly makes the transition
  from agriculture into industry and services,
  labor productivity is also improving.
• In the World Economic Forum, Global
  Competitiveness Index Vietnam has been ranked as
  the 68th most competitive economy, out of 144.

6
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