🇻🇳 Doing business in Vietnam

Structural scores

Highlights: China plus one beneficiary · Young workforce · Strong FDI growth

Key industries

Manufacturing & Electronics ↑ Strong growth

Vietnam is the worlds 2nd largest exporter of electronics after China. Samsung, Intel and LG have major manufacturing operations.

Main investors: South Korea, Japan, China, Singapore

Technology & Software ↑ Rapid growth

Vietnam has 500,000+ software engineers. Ho Chi Minh City is emerging as a major technology outsourcing hub.

Main investors: Japan, South Korea, US, Singapore

Agriculture & Seafood → Stable

Vietnam is worlds top exporter of cashews, pepper and tra fish. Seafood exports exceed $9B annually.

Main investors: Japan, EU, South Korea, US

Renewable Energy ↑ Rapid growth

Vietnam installed 16GW of solar in 2020 to 2021 alone. Offshore wind pipeline is one of Asias largest.

Main investors: Denmark, Singapore, Japan, US

Sector priorities

1. Manufacturing & Electronics — China plus one strategy making Vietnam the top destination for electronics and high tech manufacturing relocation from China.
2. Technology & IT Services — Large pool of cost competitive software engineers and government IT sector incentives driving strong technology investment.
3. Offshore Wind Energy — Vietnam has Asias best offshore wind resources and a government target of 6GW by 2030 creating major project pipeline.

Talent & work permits

Vietnam has a young workforce of 56M with strong engineering and technical education. Vietnamese is the business language with English growing in multinationals.

• Foreign workers: Work permit required from Ministry of Labour. Labour demand report required before applying. Process takes 4 to 6 weeks.
• Localisation: Foreign workers cannot exceed 20% of total workforce except in specific circumstances approved by provincial authorities.
• Key consideration: Vietnam offers Asia Pacifics best combination of cost, technical skill and political stability for manufacturing investment.

How to enter: first four steps

Vietnam requires an Investment Registration Certificate for foreign investors. Process managed through provincial Department of Planning and Investment.

1. Obtain Investment Registration Certificate — apply to Department of Planning and Investment in chosen province
2. Obtain Enterprise Registration Certificate — business registration following IRC approval typically takes 3 to 5 days
3. Register with tax authority — obtain tax code and register for VAT and corporate income tax
4. Open bank account and remit charter capital — minimum charter capital must be remitted within 90 days of IRC

Indicative cost: 10-person team

Professional-services mix (1 senior, 5 professional, 2 admin, 2 support), Grade-A office, registration, legal, audit and tax compliance. Model estimate, not a quote. Model your own team size and industry →

Regulatory watch

• Feb 2026 · Corporate Tax Incentives Revised — Vietnam revised preferential corporate tax rates for high tech and innovation sector investments.
• Mar 2026 · Global Minimum Tax Implementation — Vietnam formally enacted 15% global minimum tax for large multinational enterprises effective January 2026 in line with OECD Pillar Two framework.