Vietnam

Vietnam

One of Asia’s leading tourist destinations

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Da Nang
Da Nang
Da Nang
Da Nang

Vietnam

Rich in culture and even more abundant in breathtaking views, Vietnam is the land of plenty. Located in Southeast Asia, it's a beautiful contradiction of huge, modern metropolises and remote, untouched nature. Vietnam also offers white, sandy beaches and is one of the most popular vacation destinations in all of Asia.

While our eyes wander between the wonders of ancient and innovative architecture — between skyscrapers and Buddhist temples — the plush nature that’s flourishing everywhere makes falling in love with Vietnam oh-so-easy.

Location

Located on the Indochine Peninsula in southeast Asia, the tropical country of Vietnam shares borders with Laos, Cambodia, China, and Thailand. It has a jagged coastline that stretches for more than 3,200 km. Ever adaptable, Vietnam has been nurturing excellent relations with most of their neighbors for centuries.

With a fantastic strategic location, right in the center of ASEAN, Vietnam is close to other major markets in Asia. That makes it an amazing investment opportunity. Furthermore, as one of the trading capitals of Asia, Vietnam has a stable economy. It also has excellent trading relations with other major countries in the area. This is just one of the many reasons the New Nordic Group decided to make Vietnam one of our investment countries.

What Vietnam has to offer

Arguably the most exotic country in Asia, Vietnam has many hidden gems. Many don’t know that this country is the second-biggest coffee exporter in the world. Unlike many of their neighbors, Vietnamese love their coffee. They have been enjoying a close relationship with the beloved beverage for over a century.

Still, there’s more to Vietnam than just coffee.

Architecture and archeology

Although it’s one of the fastest growing economies, Vietnam has roots that go all the way to ancient times. What’s more, this country has often been on the crossroads of many civilizations and cultures. Always welcoming, Vietnam has been influenced by many. That’s precisely what we can see both in modern architecture and the ancient ruins.

Vietnam is a real meeting of the worlds. While taking a stroll, one might end up in front of a temple or a pagoda or a French colonial-style mansion. A fantastic composition of Asian and European architecture, Vietnam offers the best of everything. The rich history is both visible and almost palpable in the ancient ruins of Ly, Tran, Le, and Nguyen Dynasties. With pointy rooftops and towers that dominate the landscapes, ancient buildings in Vietnam are pearls of antique design. They offer a true insight into the past.

Of course, right after taking a stroll down memory lane, modern Vietnamese cities offer a contemporary take on architecture. The stark contrast is both breathtaking and oddly pleasing to the eye.

The rich culture and distinct food

Of course, hand in hand with ancient ruins goes the culture. Vietnam is one of the oldest civilizations in Asia. Their culture has been heavily influenced by the neighboring super-force and former colonist, China. Still, Vietnam has developed a vast and colorful culture over the last 11 centuries, since it gained independence.

Like many Asian cultures, Vietnam values family and community over everything. Clans and families are close-knit and very patriarchal. But, that doesn’t mean they are unwelcoming to outsiders.

Vietnam has been forced to adapt to many cultures over the centuries. Due to that, it has that colorful, multi-faceted charm that other countries simply don’t. Thanks to so many influences and a young population, Vietnam embraces novelties, newcomers, and innovation. But, they also make a point to keep their ancient traditions alive. That’s not a simple task to accomplish.

Alongside the rich culture, Vietnam also has a diverse and delicious cuisine. The signature dish — pho — will taste different in every province. Yet, because of that, it will always be a new experience— you’ll never get tired of pho! Complex and dynamic, yet comfortingly simple, Vietnamese dishes are still a treat for any palate.

Natural wonders

Vietnam is as rich in natural wonders as it is in culture. A diverse country, it offers distinct landscapes in various parts of the vast lands. The northern shores offer limestone wonders and great tourist vacation destinations like the Ha Long Bay. In the very heart of Vietnam, hiking through the red and white dunes is the most popular experience. Rivers rule the south of Vietnam — the Mekong Delta is a dream come true for all nature lovers. Filled with both wildlife and distinct flora, Vietnam is a pure natural wonder.

Best places to visit in Vietnam

Ho Chi Minh

Formerly known as Saigon, Ho Chi Mihn is the business capital of Vietnam. The French-influenced elegant architecture and broad boulevards, mixed with the towering, modern skyscrapers are the perfect examples of everything that Vietnam represents.

Always busy and brimming with people, cars, and motorbikes, Ho Chi Minh is the city that never sleeps. The city center that’s easy to navigate is full of opportunities for avid travelers. Restaurants, museums, the old district, and the famous Asian 19th-century version of the Notre Dame cathedral are some of the things this wonderful city has to offer. What’s more, the Jade Emperor Pagoda will provide insight into the Buddhist and Taoist religious iconography.

Population is about 10 millions they counted last.

Ha noi

The 2nd largest city in Vietnam and a great center of tourism in the north. The old town is totally overflooded with activities in the evening and all small resturants you saw nothing of in the daytime, they explode everywhere and tables are tiny, but filling up fast. The lake of the lost sword is a great lung and closed of from traffic on the weekends. Enjoy local people playing games, singing, dancing, .. everything.

Sapa Countryside

Cascading rice fields filled with bamboo hat-wearing farmers is the typical image of Vietnam. Although the country has developed in the technological and economic sectors, agriculture is still a massive part of Vietnam’s daily life. And the Sapa Countryside highlights that in a gorgeous way. The best that North Vietnam has to offer, Sapa is a must-visit destination.

The deep valleys and the rice fields are an amazing hiking destination. The tiny villages in the Sapa countryside provide not only amazing views of landscapes but an opportunity for mingling with the locals.

Ha Long Bay

Limestone seascape and the most famous landscape of Vietnam, Ha Long Bay is located in the Gulf of Tonking and is a UNESCO World Heritage Site. Thousands of islands reaching for the skies and rising from the sea are a perfect way to experience Vietnam’s vastly diverse geography. Along with the pillars in the sea, Ha Long Bay also has a complex cave system just waiting to be explored. Although the world’s largest cave isn’t located here (but in the Vietnamese province of Quang Binh) the Ha Long Bay caves still offer a fabulous view of stalagmites and stalactites.

Ninh Binh

Countryside. Rice fields. Small town with tons of small entrepreneur homestays that take great care of you during your stay. Enjoy biking around the town, visit caves, rice patties, the large pagoda and of course, take a tour on a sampan boat in the canals, go into caves, see locals close in their daily routines fishing and farming. Row with your feet? Yes, why not?

Da nang and Hoi An

Da nang is the 4th largest town in Vietnam and is surrounded by endless beaches, the My Khe beach bolsters with all the big resorts and offers everything you could imagine. Tired of the beach, head up to Ba Na Hills and the worlds longest, well, it has a rope car that has 4 world records. On the top, you'll find a new town built in medivial tones, french restaurants, cafés, entertainment and games for the children. We recommend you book a hotel on the top and go early in the morning to get around eaiest. Shows every hour. Wine cellar. Faboulous garden and just a great hangout enjoying the view, houses and the cool temperature!

Hoi An

Hoi An is a small town some 30 minutes from Da nang center and airport. The old town is a marvel of old buildings, more restaurants and cafés than you'd like to count, romantic boat tours on the river - like a better version of Venice. Dining is relatively cheap and you'll find everything from Vietnamese hot pots to hamburgers and Irish pubs. Culture. You'll find artists in every block selling paintings, old posters and sculptures. Even a small shop selling scale models of sailing yachts from ancient times. Rent a bike and dream a bit. Be careful until you reach the motor-free old town as traffic is Vietnamese..

Phu Quoc Island

With gorgeous white sandy beaches and sunsets that will stay imprinted in the memory forever, Phu Quoc island is the most romantic place in all of Vietnam. This island offers a serene escape from the vibrant city life and a chance to enjoy both the plush forest life and the pristine beaches.

UNESCO-protected, this island is an authentic remote getaway. Yet, it still offers a lot of the perks of civilization. Restaurants, beach bars, and cafes mixed in between traditional villages on the border of the wild forest is a sight people don’t often see.

Currency and language

The national currency of Vietnam is the Vietnamese Dong. For those looking to be millionaires, they’ll be happy to hear that Vietnam can cater even to that need. At least for a short while. With paper bills ranging from 10 to 500 thousand Vietnamese dongs, everyone can be a millionaire. First-time visitors can struggle with the exchange, considering that $50 is worth over a million Vietnamese dongs.

But, people quickly get the hang of it. Money is relatively easy to exchange, but it’s worth shopping around for the best exchange rates. While it’s better to exchange money for the local currency, most places in big cities also accept dollars.

Much like the currency, the Vietnamese language is entirely foreign to most non-Asians. Both the pronunciation and the script sound and look strange. Modern, big, and popular Vietnamese spots usually have locals that speak adequate English. Yet, those venturing to remote places in Vietnam should be prepared for a lot of hand gestures and body language explanations. Locals in remote villages, especially older locals, will more likely speak French than English.

Location, location, location

The long coastline and the fact that Vietnam is in the center of ASEAN make this country a perfect investment opportunity. The New Nordic Group has settled in Vietnam because, due to its location, it is an astonishing opportunity. Both the geographical location and the proximity of other business giants in Asia make Vietnam a hub of activity in Asia. Tourism is well-developed, and the main shipping routes are just a short boat ride away. The locations of two major cities — Ho Chi Minh and Hanoi — also make trading and business opportunities easy and accessible.

Market size and growth potential

The ever-growing Vietnam is a marvelous investment opportunity. Even though it has experienced significant growth in population in recent decades, Vietnam has seen a steady incline in both economy and market potential. All sectors are booming in the past few decades in Vietnam. The reason for that is a massive shift in both earning and spending culture. Traditionally, Vietnamese people were more inclined to save their hard-earned money. But, in recent years, the younger population is more prone to showing off their potential and status. This new spending culture is an excellent sign for investors that didn’t go unnoticed by the New Nordic Group.

Rich natural wonders and resources

Gorgeous landscapes and abundant natural habitats filled with wildlife and indigenous flora will always lure in tourists better than any marketing campaign ever could. Luckily, Vietnam has a lot to offer when it comes to natural wonders. Four UNESCO heritage sites also draw in a massive crowd of tourists every year. The rich history, paired with the preserved nature, offers an amazing vacation spot for a wide range of people.

But, Vietnam is also rich in natural resources. Oil, minerals, gas, and coal are not uncommon in Vietnam. Foreign investors were quick to catch on to this fact. What’s more, they also noticed that Vietnam is a force to be reckoned with when it comes to hydropower, agricultural potential, and marine resources.

Stability

One of the main reasons why the New Nordic Group chose Vietnam as an investment spot is the stability. Both in the economic and in the political sense, Vietnam is now more stable than ever. Although it had a shaky history, it now offers a safe haven, free from political, religious, and social disturbances. This paves the way for stable economic growth. The fact that Vietnam is 7th on the list of 10 best long-term investment destinations tickled the New Nordic Group’s interest. After all, with such a rich history, gorgeous nature, and friendly locals, Vietnam is one of the best investment opportunities in the world.

Stable GDP growth

Over the last few decades, Vietnam’s economic growth has been one of the fastest in the world. This rapid development started due to economic reforms launched in 1986 and the rise has been continuous ever since.

According to the World Bank, the GDP rate in Vietnam has experienced a stable growth, averaging 6.46 % a year since 2000.

Openness to foreign investment

Geographical advantages and growing economy are not the only attractive features for investors. Vietnam has always been welcoming to foreign direct investment (FDI) and encourages it by constantly renewing regulations and providing FDI incentives.

The government of Vietnam offers several incentives to foreign investors who invest in certain geographical areas or sectors of special interest. For example, in high-tech or healthcare businesses. These tax benefits include:

Lower corporate income tax rate or exemption from the tax Exemption from import duty, e.g on raw materials Reduction of or exemption from land rental or land use tax In July 2015, Vietnam also implemented Decree 60/2015 which allows foreign investors to invest in more areas than before.

Vietnam recorded $24.4 billion as foreign direct investment in 2016, according to the government. Giants like Samsung, Nestle, and LG are among the largest investors contributing to this number.

Vietnam is the next China?

According to the World Bank, the economic growth of Vietnam has raised the country from one of the world’s poorest into a lower middle-income country over the past three decades. If the economic rise of nearly 7% a year will continue, Vietnam’s economic development could be compared to what Chinese economy experienced a decade ago, as predicted by economic analysts.

Rising labor costs in China increase the prices of products as well, giving Vietnam a good opportunity to become the next hub for producing labor-intensive goods. Industries that used to flourish in China are now moving to Vietnam.

For example, Vietnam is becoming the hotspot of manufacturing instead of China. In addition to top manufacturing sectors such as textile and clothing, Vietnam’s manufacturing is also taking a more high-tech direction.

Growing population

With over 96 million residents, Vietnam ranks as the 14th largest population in the world. By 2030, the population will grow to 105 million, as forecasted by Worldometers.

Together with a growing population, the middle class of Vietnam is increasing faster than of any other Southeast Asian nation.

Steadily increasing economy means bigger income which, in turn, will result in growing middle class. A market research firm Nielsen estimates the middle class in Vietnam to grow to 44 million residents by 2020 and to 95 million by 2030. This will support consumerism making Vietnam a profitable target for foreign investors.

Young demographics

Unlike in China where the population is ageing rapidly, the demographics of Vietnam is young.

According to Worldometers, the median age in Vietnam is 30.8 years in contrast to 37.3 years in China. Nielsen has also estimated that 60% of Vietnamese are under the age of 35.

The workforce is young and large and shows no sign of decrease. In addition, the country also invests more money in education than other developing countries. Thus, besides being vigorous, the labor force in Vietnam is skilled as well.

Relatively low setup costs

In contrast to many other countries, there are no minimum capital requirements for most business lines in Vietnam. In fact, setting a high capital for registering a company in Vietnam is one of the 7 common mistakes foreign investors do here.

You can start a business in Vietnam without having a great amount of charter capital in your back pocket. Just make sure you have enough funds to cover the planned expenses of your company set up and you are good to go.

Also, note that the amount of capital you stated must be fully paid in within 90 days of the date of your company registration.

Competitive labor costs

Despite the yearly increase of minimum wage, Vietnam is still a country with low labor costs. Minimum wages in Vietnam remain less than half of what the wages are in China.

The rise of wages in China has forced manufacturers to look for a market with lower labor costs. Vietnam with its low minimum wage and growing economy is a great low-cost alternative to China and more and more investors decide to set up their manufacturing companies in Vietnam.

Vietnam is much bigger than people realize

There are more people living in Vietnam than in most of the large countries in Europe. Growing solvent population together with a booming economy hide bigger investment opportunities in Vietnam than most people would realize at first.

Conclusion

These were the 11 main reasons to invest in Vietnam. Naturally, there can also be risks, as there will be when investing in any other country. However, these risks can be minimized with a well-elaborated plan.

VISA TRAVEL INFORMATION

Da Nang

A land of staggering natural beauty and cultural complexities, of dynamic megacities and hill-tribe villages, Vietnam is both exotic and compelling. Nowhere in Vietnam is changing as fast as Da Nang. For decades it had a reputation as a provincial backwater, but big changes are ongoing. Stroll along the Han riverfront and you'll find gleaming new modernist hotels, and apartments and restaurants are emerging. Spectacular bridges now span the river, and in the north of the city, the landmark new D-City is rising from the flatlands. Venture south and the entire Da Nang Beach strip is booming with hotel and resort developments.

Country head office

Our New Nordic Headquarters are not in place yet, but please feel free to reach out to any of our world wide offices. Contact information is on the bottom of this page.

LOCATION

Rich in culture and even more abundant in breathtaking views, Vietnam is the land of plenty. Located in Southeast Asia, it's a beautiful contradiction of huge, modern metropolises and remote, untouched nature. Vietnam also offers white, sandy beaches and is one of the most popular vacation destinations in all of Asia.