Located at the heart of Southeast Asia, Vietnam is one of the best investment destinations in the world. Growing urbanization, large population, government support, cheap labour, latest innovations, and strong economic growth make it a popular choice among many investors.
Many investors are racking their brains, thinking of that one business idea that can make them earn billions.
Take a look at 5 best business investment ideas in Vietnam below:
1. Food Business
Vietnam is one of the culinary highlights of Southeast Asia and is considered as a paradise for food lovers. Food business in Vietnam is not only a cost-effective idea but can turn your business into a huge success.
As per an article published in Hanoi Times, “ Forecasts of BMI Research shows, food industry of Vietnam is expected to attain annual growth of 10.9% in 2015-2020. ” This makes Vietnam the best place to start a food business.
You can open a local restaurant cum bar, a bakery shop or can run mobile carts that sell street food. You can introduce new authentic local dishes or can add a twist to the local Vietnamese food to stand out from the other restaurants in Vietnam.
In case you want to open a bar, take into consideration all specific government policies.
2. Textile & Garment Industry
The textile and garment industry is attractive enough to draw many people to set up a company in Vietnam.
As per Statista, Vietnam is the 4rth-largest exporter of garments, textiles and clothing worldwide. Investors who want to earn a big profit must invest in trading of textiles and garments as these are among the items that country exports.
You can start your production or you can become a cloth merchant or start a clothing store online.
Vietnam is a beautiful country that has breathtaking landscapes, appealing nature, diverse culture, and mouth-watering cuisine. This means Vietnam is perfect for the tourism and hospitality industry.
According to the Vietnam National Administration of Tourism, the number of international tourists visiting Vietnam grew by 21% in 2018, resulting in more than 15 million international visitors.
As per VnExpress International, Vietnam’s tourism received many prestigious awards and set new records in 2019.
From the above sources, it is quite evident that there is no dearth of tourists coming to the country every year. Therefore, along with the best accommodation deals and dining plans, you can start a tourism agency.
4. Real Estate Business
In 2015, Vietnam opened up its real estate market for foreign investors. Since then the country has seen fast growth. The business is growing day by day due to the number of expatriates and immigrants that are coming into Vietnam.
As per reports shown by Vietnam Briefing, the Real Estate business in 2020 is expected to grow due to rising domestic demand.
It’s a good idea to invest in Vietnam and expect a huge profit. You can sell or buy already built properties and earn a fair commission on every successful deal.
5. Furniture Making
Furniture Making is a good idea to invest in Vietnam.
As per Statista, revenue in the furniture & homeware segment is expected to reach US$828m in 2020. That is quite a good figure.
Vietnamese are furniture lovers. They love to remodel their house and office with new furniture. If you have a good knowledge of furniture making and design, you can earn good profits from this business in Vietnam.
Vietnam is a growing economy that offers lots of investment opportunities. Apart from the above, there are many business ideas in this country for you to be successful.
You can start with any of them and start earning profits. But before investing, consider all the laws and regulations of the country.