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The flow of China Plus One has accelerated since the 10s, due to the increasing labor costs and labor shortages in China. According to report of JETRO, The share of export value of electrical equipment has increased to 2019, telephones and parts accounted for 19.5%, and computer electronic products and parts accounted for 13.6%. Export of FDI accounted for 42% of total export value in 2009. It increased by 70% to 2019. Export value of Domestic has also increased by more than two times from 2009.Read More “Production base in covid-19 crisis”
Domain: Surveillance camera
Base year: 2020
Forecast Period: 2021 – 2025Read More “Wi-Fi Surveillance Camera Market Movement in 2021”
/4th wave of the outbreak (05/2021)
Since the first COVID-19 infected case was confirmed in January 2020, Vietnam is now at the 4th wave of COVID-19 outbreak as the whole world is fighting against the unprecedented pandemic. Throughout the first year of the outbreak, Vietnam was recognized as one of the few countries in the world that witnessed positive economic growth, eventhough it was much smaller than normal higher growth rate that Vietnam had been possessing before 2020.
However, as the world is half-way into the second year of this so-called “new normal”, many heavily affected countries have managed to implement a fast and wide vaccination program in hope to achieve herd immunity and bring back the “old normal” of free movement as soon as possible. Meanwhile, Vietnam is somehow struggling with its 4th wave of the pandemic with rapid increase in the number of community-spread infected cases. Whether or not the newly developed types of vaccine would show effective result any time soon, and whether or not Vietnam would be able to handle this harsh wave as effectively as it did in the past without hurting the economic activities, it is still a question left without concrete answer at this point of a historic time.Read More “A survey on Vietnamese’perception towards COVID-19 outbreak”
As of March 11, 2020 | Consolidated by B&Company Vietnam & BEAN Survey team
The COVID-19 outbreak has disrupted the lives of hundreds of millions of people worldwide only 2 months after the first case was found in Wuhan (China), creating uncertainty for the whole world. Since the mechanism of this virus has not been fully understood, no one could be sure until when the epidemic would last, let alone the consequent increase of economic instability. Read More “An overview of COVID-19 outbreak affecting on Vietnamese social-economy”
“10 billion USD in 2015 to 25 billion USD in 2025”
Vietnam’s hectic scene of modernization and industrialization has benefited some particular industries, one of which is electrical construction. Factories, airports, shopping complexes, everything needs switches and light bulbs.
It has been suggested that electrical construction account for ¼ of general construction’s total market value, which will rise from 10 billion USD in 2015 to 25 billion USD in 2025. Proportionally, electrical construction’s market value should increase from 2.5 billion USD to 6.25 billion USD in the same period.
Such CAGR of 10.9% over the next decade is an impressive piece of statistics, signaling a good time ahead for electrical construction industry.
Naturally, even for the most evenly positive state or situation, there are certain points that require extra attentions.
The first point is infrastructure renovation movement in Vietnam’s rural areas. In around 9,000 communes across the country, a lot of stuff needs to be upgraded, and a lot of other stuff needs to be built: roads and bridges, markets and houses, schools and hospitals.
“30% increase annually”
In 2016, Vietnam recorded 129 cases of food poisoning and 57,000 units found violations. Todays each time going to market, consumers keep worrying whether the food is safe or not because lack of its origin information.
As a result, growing numbers of people are turning to “clean” food, buying foods certificated by officials. This trends also opens up a new business opportunity in “organic food”.
Organic Trade Association estimates total organic consumer market of Vietnam at about 2 million USD per year.
Health & wellness products have highest consumption, reached 3,955.8 million USD in 2015, with compound annual growth rate of 17.9% from 2012 to 2015.
According to Organik Da Lat, consumption of organic products has increased by 30% annually. Statistics from “Hợp tác xã Thỏ Việt” show that consumer demand in the first eight months of 2014 increased by 50% compared to 2013.
Many big brands in Vietnam have invested and developed its organic products, such as Vinamilk, Co.opmart, Vinamit,…
Vinamit, a well-known dried fruit manufacturer and exporter, also included organic into their core business.
For the past 4 years from 2013, Vinamit has invested in a 171 hectare organic fruit farm in Binh Duong. Up to now, Vinamit has 80 organic products certificated under the USDA (US) and EU (Control Union) standards.
“Annual growth at nearly 20% “
In 2016, Vietnam Insurance Market has the gross insurance premiums at about USD 3.91 billion,
increasing 22.64% compared with the previous year.
Also, the CARG index of Vietnam Insurance market is at 18.68% in the period of 5 years (2011-2016),
which shows the good performance of Vietnam Insurance market.
Insurance companies in Vietnam are operated
in life insurance or non-life insurance.
Life insurance market makes the growth of 29.8%,
reaching USD 2.25 billion with 18 operating companies in 2016.
Prudential is the biggest companies in terms of insurance premiums revenue with the market share of 27.11%.
“FDI trend in Vietnam”
Newly-registered foreign direct investment (FDI) capital in Vietnam has improved since the global financial crisis, racking up nearly $12 billion in 2015 (The World Bank, 2017) and the first half of 2016 alone (Van, 2016).
As one of the driving forces of the economy (Vuong, Tran and Nguyen, 2009), this displays the reforming status of Vietnam.
Specifically, the value of M&A accounts for approximately half the FDI inflows, making it the most crucial component of the capital (Gaskill and Nguyen, 2015; Vuong, Tran and Nguyen, 2009).
Recording over 500 successful deals in 2016, the total M&A deal value reached nearly $6 billion, increasing by 23.8% on-year and more than 10 times since 2006 (MAF, 2016)
“200 high-tech agriculture enterprises by 2020”
Vietnam is strongly promoting hi-tech agriculture, as a mean to increase productivity and reduce negative impact on the environment.
The country has set a target that in 2020, hi-tech agriculture product would account for 35% of total value of national agriculture product (approximately 11.6 billion USD on 33.2 billion USD).
To achieve that ambitious target, enthusiastic participation of private sector is required. According to the Government’s outlook, there would be 200 hi-tech agriculture enterprises operating nationwide by 2020. However, until 2015, the number was reported to stand at just 22.
Whether this void of hi-tech agriculture enterprises would be filled up in time or not depends a lot on foreign investment, because the most plausible business model would be a cross-country partnership, in which the Vietnamese side provides land and understanding of local conditions, while a foreign side contributes technology and know-how.
“Reach 1 Million in the next 5 years”
By the end of 2015, Vietnam had around 550 thousand active enterprises. That figure is forecasted to reach 1 million in the next five years, half of which will be located in Hanoi and Ho Chi Minh City.
Such rise in number of businesses calls for a corresponding rise in amount of office space, especially when land prices in the 2 major cities are too expensive (up to $7,000/sqm in central districts) for modest-size enterprises to own an independent building.
Currently, Hanoi and Ho Chi Minh City’s total office space stands at 1.2 and 2.4 million sqm respectively. Each city can expect to add around 160,000 sqm to its supply source in 2017. While Ho Chi Minh City will still have the new stock concentrate in downtown area, Hanoi is likely to experience a movement towards west side of the city as its Central Business Districts is quickly running out of usable land.
Read More “Office leasing market in Vietnam and supply drainage solved by rise of new players”