FOREIGN EXPERTS FELT “BREATHE EASY” WHEN LIVING IN VIETNAM

Vietnam ranked 21st in the economic ranking, but ranked 5th when talking about the saving ability of foreign experts.

According to the survey from HSBC. Most of foreign experts believe that Vietnam had a more comfortable life with less spending on housing costs (62%), travel (73%), clothing (68%), goods and necessities (62%), essential services like electricity, water, telephone (70%) and bills (77%). Thus, experts are likely to save more (68%) while living in Vietnam.

More than half of the foreign experts (62%) said that in Vietnam they can afford to hire a maid and nanny, something that they cannot afford while living at home country, and can enjoy the luxury vacation (52%), compared with only 28% and 36% of global experts.

The survey from HSBC also showed that Vietnam ranked 22nd in the ranking on experience, but 2nd in the ability to make friends. More than half of the foreign experts (56%) find that they integrate quickly into life and culture of Vietnam, and the majority of foreign experts find it easy to make new friends in Vietnam (68%).

Stabilize the life in Vietnam is relatively easy, with 36% of the experts feel like home once or within six months after moving to Vietnam. Most of foreign experts also enjoy integrated into in Vietnam (61%), enjoy and cook Vietnamese foods (78%).

Vietnam ranked 31st in the ranking about family. Almost half of the foreign experts (43%) said that the cost of child care in Vietnam is less expensive than at home country, and most of foreign experts (74%) send their children to the international School.

Vietnam is developing very fast and owns a dynamic business environment. This is an attractive destination for entrepreneurs seeking start-up opportunity and new business projects.

As an emerging market, Vietnam brings foreign experts many challenges and chances to develop career. With significant attractions in terms of tourism, culture and people, Vietnam also brings foreign experts wonderful experiences along with ease of integration and stabilizes the life in Vietnam.

Business in Vietnam

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TPP Helps Vietnam Become an Important Base in The World Production Chain

Vietnam is considered to be the biggest beneficiary country of the 12 countries participating in the TPP.

The fact that countries which have large markets like the US, Japan and Canada reducing import tax to 0% for Vietnam goods will create tremendous boost to export of Vietnam. Particularly the textile industry, turnover could increase significantly.

The textile and footwear industries, the agricultural, forestry and fishery goods of Vietnam will have the opportunity to increase export significantly.

Joining TPP will also help Vietnam and other countries to have new opportunities from new supply chain, which will be formed after TPP takes effect. TPP countries currently account for 40% of global GDP and 30% of global trade. Moreover, it includes major markets such as USA, Japan which will certainly open up many opportunities when the new supply chain formed.

Accordingly, a number of corporations and large companies in the world have considered investing in Vietnam with the goal of making Vietnam become one of the important bases in their production chain. Joining TPP will help this trend grow stronger, which is an important condition for Vietnam to step on stage to develop new industries with higher technological contents.

The commitments in TPP in service and investment are also expected to have a positive effect in improving the investment environment, contribute to attracting foreign investment. Many studies confirm that foreign investment will increase as TPP takes effect.

The Ministry of Industry and Trade said that Vietnam enterprises will also can join into the public procurement market in the United States, Japan, Canada… According to the data from the US, the market for public procurement of this country is about 10-12 billion USD each year. This is an attractive distribution channel for export goods from Vietnam.

The completion and strengthening the protection of intellectual property rights will open opportunities to attract investment in sectors with high knowledge content, such as pharmaceutical manufacturing, including bio-medicine and especially vaccine.

TPP will create condition for enhancing growth, creating job and increasing income, contributing to poverty alleviation, improving the quality of human resources and health care for the community.

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