Notes

Enterprise and Market Overview on Vietnam
ECONOMY. In year 1986, the Vietnamese government abandoned its Marxist economic policy and implemented "doi moi" (renovation) involving financial structural reforms. These kinds of reforms included modernising and liberalising our economy and developing extra export driven companies. Vietnam joined the Association of Southeast Asian Nation (ASEAN) and became a new signatory of the ASEAN Free Business Agreement (AFTA). Typically the US-Vietnam Bilateral Trade Agreement in 2001 has brought main changes to Vietnam's economy and dreams to enroll in typically the WTO in 2006.

Vietnam's GDP grew at an average of seven. 3% annually throughout 2000-2004 and arrived at US$44. 5 million by 2004 and even unemployment declined through 6. 4% throughout 2000 to a few. 6% in 2004. However, inflation continuously increased reaching seven. 8% by 2005 and prompted Vietnam's government to put into action monetary and fiscal settings to manage inflationary pressures.

The production sector contributed to 40. 1% of Vietnam's GDP in 2004 while the service sector contributed 32. 2%. The agriculture sector contributed to 38. 7% associated with the country's GDP in 1990 although declined to twenty one. 8% by 2004. Major industries incorporate processed foods, clothes and shoes, exploration (coal and steel) cement, fertilisers, a glass, tyres, paper in addition to petroleum. Major farming products include grain, coffee, rubber, organic cotton, tea, pepper, soybean, cashew nuts, nuts, sugar cane, nuts, bananas, poultry and even seafood.

DEMOGRAPHY. Japanese (also known as Viet or Khin) may be the major ethnic community accounting intended for nearly 86% regarding the country's human population and reside largely in the asian half of the country. coffee house newtown menu include Chinese who live mainly in the urban areas, Khmer Crom (related to the Khmers regarding Cambodia), Tays plus Montagnards who reside in the mountainous parts of the country.
In a government census, about 80% regarding the population do not subscribe to virtually any religion but amongst those who perform, 9% are Buddhist and 7% will be Christians. Other religions practiced include Islamic, Cao Dai plus Hoa Hao. The national language is usually Vietnamese and different languages spoken among the minorities include Tay, Muong, Khmer and Chinese language (mainly Cantonese and Mandarin). English is the preferred second language but generally comprehended and spoken among the educated high level

The majority regarding the Vietnamese human population live in the rural areas but the proportion of the particular urban population is usually gradually increasing from 19. 7% inside 1990 to 26. 0% in 2004. Vietnam's largest city is definitely Ho Chi Minh City (population your five. 0 million) and even Hanoi (population associated with 3. 5 million) followed by Nai, Haiphong and Dac Lac.

Household revenue in Ho Chi Minh City is usually nearly 3 times typically the national average -- the city accounts for nearly half regarding all the motorbikes throughout Vietnam. An estimated 20% from the human population live under the thankfully level and primarily from rural homes. 10%-15% from the families are middle in order to high-income households while 65%-70% are lower-income households.

INFRASTRUCTURE. Vietnam's telecommunication systems separation behind many neighbouring countries in the region and therefore government sets great emphasis about its modernisation. Digital exchanges now attached to Hanoi, De uma Nang, and Ho Chi Minh City and main ranges have increased although the use associated with mobile telephones is growing. The country wide road system extends from the upper to southern suggestion of Vietnam. Upper and southern Vietnam are served simply by two international international airports and two main sea ports offering international shipping.

INTERCONTINENTAL TRADE. Vietnam's key trading partners are usually the US, Nippon, China, Australia, Australia, Singapore, Taiwan, Asia and South Korea. Major exports contain oil, seafood, rice, coffee, cashew nut products, rubber, tea, clothes and shoes. Key imports include machineries and equipments, oil products, fertilisers, metallic products, cotton, source, cement and bikes.

CONSUMER USING TECHNOLOGY. There were practically 10. 1 mil telephones installed in Vietnam and almost 5. 0 zillion mobile phone clients 7 years ago. The federal government is putting substantial efforts to modernize and increase the country's telecommunication system although still lags when compared to Singapore, Thailand in addition to Malaysia. website is low; quotations vary from 2% to 4% regarding the population inside 2004 and approximately 5. 8 mil internet users. The penetration of television set is merely 20% and even concentrated to homes within the cities and even towns. Similarly, assembly of refrigerators is usually concentrated in the particular cities where 60% from the homes include refrigerators.

RETAIL MARKETPLACE. Retail sales inside Vietnam grew simply by 8%-12% annually by 2000 to 2005 brought about by increasing disposable income due to the country's solid economic growth. Thai consumers spend two-thirds of the income on retail purchases amounting to US$16. a few billion in 2004. Traditional wet markets and the "mom and pop" outlets dominate the retail industry accounting intended for 95% of the total retail buy and sell. Several retail stores measure no more than five sq . metres (54 sq . feet). Modern retail store establishments are minimal but gradually appearing in the region and generally locally owned businesses focused in Ho Chi Minh City and Hanoi.

FOOD CULTURE. Rice and noodles are the staple food of the particular Vietnamese but taste preference differs by simply region. Foods in central Vietnam will be spicier while food items in northern plus southern Vietnam are less spicy and even tend to be saltier. The Thai often dip their foods with chilli, garlic or fish sauce to include taste. The French colonialists introduced European style bread and bakeries into the Japanese food culture. European style fast food service establishments are beginning to emerge alongside the conventional snack bars, pastry shops and cell phone food carts.

Khal Mastan is some sort of Senior Consultant using Pegasus Business plus Market Advisory ([http://bma.pegasus-asia.com]) based in Malaysia. He or she involves himself in operation and marketing exploration and provides contacting services on trading markets in Southeast Parts of asia namely Malaysia, Asia, Singapore, Indonesia, Israel and Brunei. This individual has a lot more than thirty years experience in the region and work knowledge in numerous industries. He or she holds a bachelor degree in Biochemistry and biology and an MASTER OF BUSINESS ADMINISTATION. He is able to be called at khalzuri@pegasus-asia. apresentando or +6 (03) 7726 5373 throughout Malaysia.
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