Exporting to Vietnam

Vietnam. Socialist Republic of Vietnam

Export opportunities for Spanish companies in Vietnam

Strengths

It has shown a spectacular capacity for economic change.

  • Very young population base: 50% aged under 30 years.
  • Agricultural sector in decline, with industrial and services sectors growing.
  • Income per capita undergoing fast growth.
  • Rich in natural resources.
  • Adequate position for tackling external payment obligations.

Weaknesses

  • Excessive weight of state companies. A major reform and privatisation plan is pending.
  • In-depth reform is required, with recapitalisation and streamlining of the banking system.
  • Containment of public indebtedness in the medium term.

Investments

  • Opportunities related to infrastructures, industrial supplies, chemical and consumer products, tourism and catering.
  • Right to transfer and repatriate in foreign currencies.
  • Incentives for foreign investment and restrictions in some sectors.
  • Special economic areas and industrial duty-free zones exist.
  • Vietnam and the EU are in negotiations to establish a free trade agreement.

Outlook

  • GDP Growth: 5.9% in 2012, 6% in 2013 and 5.7% estimated for 2014. The country’s economic development potential continues to be excellent.
  • Vietnam has managed to beat its high inflation level and in 2013 inflation stood at 6.6%.

 

Contact

Singapore

Keck Seng Tower
133 Cecil Street, 09-01 A
069535 Singapore

Contact details
Manager: Joan Salafranca
Tel.: (+65) 6224 2707

 

Contact

Form of government

Socialist, under the government of the Communist Party

Official language

Vietnamese

Currency

Vietnamese dong (VND)

Exchange rate

1 euro = 28.803 Vietnamese dongs (February 2014)

Religion

Secular state

Population

89 million (2013)

Time difference

+7 hours

Banco Sabadell in Vietnam

Sra. Salamah y Joan Salafranca (director).

Miss Salamah and Joan Salafranca (Manager).

Experience

Our relationship with the Vietnamese banking system dates back to 1991-92, when Banco de Sabadell became the first Spanish bank to establish banking relations with the Vietcombank.

With this came the signing of one of the first European buyer-credit agreements. Over the course of the years, a solid relationship has been built up with a wide range of local banks, thus covering the needs of Spanish exporters.

The proximity of Banco Sabadell’s regional office in Singapore, with a presence in the country since 1990, has allowed intense collaboration to be developed in this market with public and private agents from Vietnam.

Furthermore, Banco Sabadell in Singapore has strengthened its capacity for advising companies, investors, importers and exporters, achieving renown among the financial and economic community in the country itself.

Services

  • Banco Sabadell in Vietnam has great knowledge of the local market, thus allowing it to offer guidance to companies in taking their first financial steps in the country.
  • Personalised and quality service aimed at Spanish companies.
  • Financial and commercial advice on the market: on the export and import of products to and from abroad.
  • Monitoring of transactions, projects, and tenders.