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Grant Thornton is conducting its 2023 survey on the investment outlook of the private equity sector. The survey is aimed at decision makers involved in investment activities such as corporates, advisory firms and private equity houses in addition to academics and experts across various sectors of the economy.

Prime Minster Chinh was accompanied by a delegation of approx. 180 people from Vietnam including Minister Dung from MPI, Minister Dien from MoIT and Minister Hoan from MoA. His opening message was that Vietnam was in the process of restructuring the growth model to a green and sustainable model embracing a global and comprehensive approach.

The entrepreneurial culture of Ho Chi Minh City, combined with a youthful, progressive workforce and excellent trading links, make this a fantastic destination for businesses looking to expand into the region.

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In 2018, Gross regional Domestic Product increased 8.3% (higher than the national average) driven by the service sector which registered an 8.4% increase. Tax collection also registered an 8.3% year on year increase. The City’s export turnover grew 7.5% to reach US$ 38 billion and the international Visitors to the city recorded a record level of 7.5 million (an increase of 17%). Foreign Direct Investment increased by 11.8% to US$ 7.4 billion with FDI contributing 58% of the city’s exports.

Chairman’s Insights

2018 saw Vietnam achieve or exceed all socio economic forecasts for the year and this accompanied by the high level of business confidence, maybe with the exception of the construction industry, augers extremely well for 2019. GDP growth exceeded the target of 6.8% recording an 11 year high of 7.08% putting Vietnam as one of the strongest growth economies in Asia and the world. The strongest driver for GDP growth were the manufacturing industries with a growth figure of 12.98% . At the same time inflation remained at under 4%.

Grant Thornton Vietnam’s Hotel Survey 2018 presents financial, operational and marketing information for the 2017 financial year from a range of Vietnamese upscale hotels and resorts.

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.

Grant Thornton is conducting its 2018 survey on the investment outlook of the private equity sector. The survey is aimed at decision makers involved in investment activities such as corporates, advisory firms and private equity houses in addition to academics and experts across various sectors of the economy. This is the 17th consecutive private equity survey Grant Thornton has carried out on an annual basis.

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.

In a recent survey, conducted by Vietnam Works a leading on line job search and recruitment website, it was noted that the demand for employees in the Information Technology (IT) sector has doubled in the last 3 years.

The number of new SME’s continues to grow at a healthy rate with approximately 14,500 new enterprises established in the first 2 months of 2017, a year on year growth of 3.9%. In this period the registered capital of these newly established firms was US$ 6.7 billion an increase of 35% against the same period as last year. With over 600,000 registered SME’s and growing at over 100,000 per annum SME’s are an important sector of the economy. However the number of firms ceasing operations or closing has not been insignificant but over the last 12-18 months the number resuming operations has been increasing.

Vietnam Business Forum - Strengthening the Private Sector