Vietnam Small Business Online Directory and Company Index. In recent times, Vietnam has faced its fair share of challenges, not helped by global and rapidly changing economic conditions. 30 Most Profitable Business Ideas & Opportunities in Vietnam Vietnam is a very suitable and profitable place for your business to grow. You might be required to collect rent and pay necessary expenses while just sending periodic reports to the owner or you might be given certain tasks to handle. Due to the advancement of technology, it has now become very easy to become a product sourcing agent between the foreign buyers and local sellers especially as the buyers will need someone who can vouch for the quality of what they want to buy. As a water treatment specialist, you get to install or supervise the operation of water purification equipment and deal with water storage activities and distribution operations. If you have a passion for cleaning people’s homes and you are a genuine person, then you can provide dedicated services to those in your target area. Top 10 Small Business Investment Opportunities in Vietnam A listing in the Vietnam Online Small Business Directory is therefore very much recommended. As more foreigners continue to move into Vietnam to explore business opportunities, starting a translation and transcription service can be a savvy move for an enterprising entrepreneur. This is part of our Plug and Play Network, which aims to ease market entry for SMEs in over 45 major cities in 6 key markets across India, China and South-east Asia including Vietnam. the association gathers entrepreneurs of Vietnam to all strive for the development and prosperity of the enterprise, as well as the socio-economy development of the country for the goal of “wealthy people, strong country, democratic, fair and civilized society”. Fully operational burger restaurant / coffee shop in the city centre of Da Nang. There are so many products that you can bake, from sweet rolls to cakes, in order that you may attract various customers. When choosing a business location in Vietnam, investors often opt for Ho Chi Minh City or Hanoi.However, Vietnam has plenty more to offer, and it is wise also to look further. Most of these entrepreneurs or corporations usually require an independent consultant to help provide marketing services for them. You will need to determine the kind of services you intend to offer your various clients and in order to create awareness, you will need to advertise and engage in publicity strategies. You can also seek advice from those that are running the business in order to find out what challenges they are experiencing and what you should expect. Available in Other Countries: | UK | Australia | Canada | South Africa | India | Nigeria. Switzerland-Vietnam business group debuts Tuesday, March 02, ... drawing the participation of clients based in Vietnam and overseas who are looking for investment opportunities in Vietnam… Similar to other Asian business cultures, the principle of “losing face” and the personal relationships you can make with potential Vietnamese supply partners are crucial to your business’ success. Business Opportunities General Services Office, U.S. Embassy Hanoi, Vietnam seeks to enter into contracts with qualified, reliable firms with sufficient facilities, financing and work experiences for the supplies and services listed below. For you to be a successful marketing consultant, you should have knowledge about industry trends, markets, demographic and sales results. The economy in Vietnam is still a growing one and several people are still drinking water that hasn’t been treated because the water storage and distribution facilities are still undergoing formation. The beauty industry is hardly affected even during economic downturns because people are now conscious of how they look regardless of how much income they generate. For Sale: Best-rated cocktail bar in Da Nang with 40 seats (crowded even during Covid-19) For Sale: Fashion women's brand with 10 retail stores specializing in women's office wear. In starting this kind of business, you should be able to not only bid on but fulfill contracts as well. Those in this kind of business care for, arrange, design and deliver flowers to their clients. Fully operational burger restaurant / coffee shop in the city centre of Da Nang. Top 5 tips for doing business in Vietnam. Webinar 13 August 2020 In this interactive webinar + Q&A, we will have speakers from research firm Kantar and corporate services advisory Domicile Corporate Services present key insights about the Vietnamese market insights, growing sectors, and how to structure your market entry plan. In 2016, its revenue was estimated at US$59.9 billion. – Vietnamese Franchise Opportunity Agricultural processing business entails processing natural farm produce and packaging it for customers to buy. If you are going to own more than one truck, then you should determine how you are likely to get drivers. Everyone needs a haircut every now and then and so opening a barber shop is a good way of generating revenue. The demand for tutorial centers can be immense as most schools in Vietnam ban private learning and teaching centers. Even though the war in Vietnam affected the transport sector, but lots of roads have been repaired which means more people will not be needing motorbikes to get to their destination anymore. Any entrepreneur looking to do business in Vietnam should be aware of the fact that the country is at the center of many free trade deals with major countries such as the United States, Canada, the European Union as well as Russia, and will therefore be a good place to start any business that will lead to recouping one’s investments. You will need to ensure that you develop creative marketing strategies that will enable you to compete with other bakeries. In this article, we focus on business opportunities in Da Nang, the fourth largest city in Vietnam.. Six main benefits of setting up a business in Da Nang Vietnam Small Business Opportunities, Ideas, and SME Organizations. Therefore to avoid running afoul of the country’s laws, it is best to ensure that all your documents are legitimate. Vietnam’s healthcare industry is also evolving, and the changes may also serve as major business opportunities. Then the answers and business opportunities will arise mainly from the agricultural and its close sectors. Women and even men often want to have their hair and body taken care of. Having knowledge of several brands is also very important so as to be able to cater to varying customers’ preferences and tastes. The car wash business is one that is not only profitable but offers a steady stream of income regardless of which country the business is located in. – Vietnamese Online Business Opportunities Vietnam is regarded as either an addition or alternative to China in certain sectors due to its low value in production in terms of land, labor, free trade agreements as well as tax incentives. If you are going to be operating your business in an area that will see a steady stream of customers, it is best that you employ workers to help you out. Building and construction activities are usually signs of a growing economy and when the economy is stable or growing, several kinds of construction activities usually go on and Vietnam with its growing economy is one of the best places to start your construction and building components business. Most pet owners prefer international brands to local brands and so you should take this into consideration when looking to start your pet shop business. If you are one who loves to meet new people every time and yet make money, then starting a night club might be the next best thing for you. Fax: (+844) 3574 2020. The Key to Successful Business in Vietnam. You will need to define the services of your beauty salon but try and offer as many services as possible in order to be able to attract a large number of customers. In order to be able to get buyers from all over the world, you might need to visit e-commerce websites that will allow you connect with individuals that are looking to buy these items. Hundreds of local startups are developing new technologies for payment and security solutions, and multinational companies and banks are flocking to Israel for a piece of the action. Pros and Cons of Doing Business in South Korea. As an entrepreneur looking to become a freight forwarding agent in Vietnam, it is best that you have contact with multiple carriers in order to be able to move the goods of your customers. Most Vietnamese are interested in improving their homes and the design in it and while some might do it for comfort or due to their standard of living, so this is a good business to start. – Leading Young Vietnamese Entrepreneurs Today Even in times of economic downturn, this is one market that is not affected because most Vietnamese use motorbikes for business, transportation and pleasure and so if you are looking to go into the business of retailing the parts of motorbikes, you should expect as steady stream of customers. For Sale: Master franchise of a global frozen yogurt retail chain in Vietnam with 3 outlets. Checking latest market news, political developments, building network of connections, analysing data, so we are confident to claim being a reliable and trusted business partner in Vietnam. The equipment used in washing cars do not cost so much and yet they help generate tremendous amount of money. The ease of landing visas and an increased number of flights to and out of the country have seen more positive impact on the economy of the country. Anytime Carsharing (Mikro Kapital Group) - Vehicle Rental Franchise Opportunity. Do you want to start a business in Vietnam? Even though Vietnam is a country with high export potential, there are importation businesses that can be run as well. Coolest Young Vietnamese Entrepreneurs under 30. If you are very versatile on social media and have a great sense of fashion, then it is high time you think of starting an online clothes retail business. Within the ICT sector, business process outsourcing (BPO) is an industry that is poised for growth due to the country’s growing pool of skilled talent. Tourism. 1. Business of Restaurant & Bar. This has led to high valued tech operations from giants such as Samsung, Intel amongst others to increase in the country to 25 percent in 2015, up from the 5 percent that it was as at 2010. The ICT industry is a sprawling one and countries no matter their level of development have thriving ICT hubs and so becoming a software developer is one business opportunity that you do not want to pass up especially as the industry in Vietnam is still a growing one. Buy a Business in Vietnam. Ensure that the parts you sell are of high quality as this will ensure that you retain a high number of customers while attracting new ones. Even though fashion is quite crowded, you can still stand out by producing something different from what is available in the market. Saigon One Tower. Even though you might not have the same economies of scale as you would for this kind of business in advanced countries, this does not however mean that you cannot run a profitable business if you have a good technology platform. VietnamMarkets.com is a leading source for finding business opportunities in Vietnam. This is a business that requires huge amount of capital to start and run before profit can be recouped and so it is vital that you have a network of contractors where you are able to get jobs every now and then. You will need to determine the kind of services you intend to offer your various clients and in order to create awareness, you will need to advertise and engage in publicity strategies. One of the fundamental keys to success when doing business in Vietnam is the ability to grasp Vietnamese business customs. If a business is exploring opportunities to expand into Asia, it could be forgiven for assuming China to be the sole country to offer major economic growth and a wealth of opportunities. Ensure that you understand your market so as to know what kind of rentals you will be going into. 5 Best Business Opportunities By Industry in Vietnam. The beauty industry is very competitive and in order to operate your store successfully, you will need to find your niche. There are a lot of items that Vietnam is known for which are regarded as staples by other countries such as rice, coffee, crude oil, rubber and so many others, that an enterprising entrepreneur can take advantage of when looking to go into exportation of items. The booming economy means that there will be more immigrants moving into the country either for business or to live and so the construction industry is likely to boom due to the number of construction activities that aims at providing living facilities to accommodate more people. Ensure that you conduct a thorough research and that you have a good business plan at hand. Because clothes are a necessary item, starting a business where you sell baby clothes is likely to earn you a lot of profit. Vietnam Young Entrepreneurs Association (Vyea) is a voluntarily professional social association of the Vietnamese young businessmen, operating on a non-governmental and not-for-profit basis. The open economy of Vietnam has many advantages like the strong growth rate of the economy, Government support, infrastructural development, cheap labor, skilled workforce, and low cost of developing a business, etc. A freight forwarding agent is one that helps to organize shipments for either an individual or a company that is looking to get their goods from the manufacturing point to the final point of distribution. As the country’s economy continues to improve, more foreigners are coming in and more locals are beginning to look to starting a business. As long as your store will meet the demands of a great number of your customers, then you have a high chance to succeed. If you are not sure of what business to start in Vietnam, below are 50 best business opportunities that can be considered. The country has ancient monuments and modern day architecture. Copyright © 2021 Profitable Venture Magazine Ltd | All Rights Reserved | See About Us | Contact Us | Privacy Policy | Disclaimer. Cat and fish are the most preferred pets in Vietnam especially in the big cities, and due to health and wellness trends, more pet owners are willing to spend more on packaged pet food. The services offered by a construction services business include; project management, subcontractor outreach, project controls, risk management services, design management and so many more. Agriculture in 2004 in combination with forestry accounted for nearly 22 percent of Vietnam’s GDP and for a decade, the sector grew at a rate of more than 4 percent. Just ensure that you have the right amount of capital and that you have contacts with building contractors before starting the business. In order to be able to start and run this business successfully, you will need to have a network of sellers and buyers; however ensure that your used cars are of a certain standard especially when it comes to safety and performance. Vietnam enters a time period of continued high economic growth following consecutive years of high GDP growth. This is the production and trade of flowers. Ensure that you provide your clients with modern online payment options. Together with the Bangkok office, we also cover the Mekong region. Vietnam also has concluded negotiations for the EU-Vietnam Free Trade Agreement and the Trans-Pacific Partnership (TPP). According to statistics, Vietnam is gradually changing by strong economic growth, ongoing reform and a large population of 93 million – half of which are under the age of thirty – have combined to create a dynamic and quickly evolving commercial environment. Understand Business Culture in Vietnam. This website uses cookies to improve your experience. The latest Vietnam's Business News - Breaking personal finance, company, financial and economic news, plus insight and analysis into Vietnam. However, no matter how lucrative this business might seem, it would be best if you conduct your own due diligence regarding the business as this will enable you know what texture of garments you intend to go into and who your target market will be. 16 Lucrative Business Opportunities in Vietnam. Not everyone can afford to buy new cars and so there is always a market for used cars. One thing you should be aware of is the fact that you will be facing a lot of competition from already existing advertising agencies and so it is best that you have conducted a thorough research about the business. In the year 2014, the export of footwear, handbags and leather amounted to more than $5.7 billion in the first seven months and went up by 19.2 percent the next year. 1. Starting a bakery in Vietnam is not only lucrative but it can see you turning your business into a huge and successful one. This is a BLOG for Asian SME entrepreneurs and ASEAN other small business, © https://entrepreneur-sme.asia 2009-2021. You must have a company address and a lease signed before you register your entity. Making a restaurant in Vietnam is a lucrative business … If you have always had the passion of being a fashion designer and have never found clothes that you like in your local market or area, then starting a clothing line might be the business for you. ... Any deal involving publicity, marketing and media opportunities boasting international relationships would be very desirable. Vietnam Business Opportunities Business for Sale | Investment Opportunities | Investment/Business Loan Opportunities. However, because many parents are concerned with having their children improve and most teachers and brilliant students are looking to earn extra income, starting a tutorial center can be very lucrative especially if your center is known to be efficient. Even though the industry is a competitive one, you can still choose a niche and focus on it but ensure that you have conducted a thorough research on the niche so that you do not end up starting a business where you will not be profitable. Solomon O’chucks is a Researcher, Prolific Writer and a UNICEF trained & Certified Facilitator and Counselor, A Graduate of Morris Cerullor School of Ministry and He Holds a Degree in Personal Development & Science of Success from IIGL Asheville, NC, USA. Business Opportunities in Vietnam, Presented by Coronavirus Crisis. But opting out of some of these cookies may have an effect on your browsing experience. People in Vietnam and around the world are daily searching the internet to find trusted and reliable business contacts. Coconut • Vietnam is the largest exporter of nuts for fresh consumption • Husk and shell hold limited potential as feedstock 4. The agriculture industry is one that many entrepreneurs like to go into because of how lucrative it is. Although COVID-19 has brought about a huge negative impact on Vietnam’s tourism industry, it is expected that the industry will bounce back faster and more powerful than ever. Viet Nam Cooperative Alliance (VCA) If you have to employ other hands, ensure that they undergo a thorough background check so that you do not end up losing customers. ample business opportunities for Dutch entrepreneurs. Pet care in Vietnam has been growing due to the gradual increase in the pet population, busier lifestyles and rise in the humanization of pets. Baby clothing are quite different from that of adults and a lot of parents do not mind splurging on clothing or other items for their babies. There is nowhere that babies aren’t born every now and then especially if the population of the area is mostly young people. According to projections by the World Group Bank, the signing of the Trans Pacific Partnership (TPP) by Vietnam in 2016 saw the country’s economy get a 10 percent gain in GDP as well as a 30 percent increase in export value where the positive impact will last till the year 2030. Top 10 business investment opportunities in Vietnam for SME. In Vietnam, Enterprise Singapore works with partners to provide pre-market entry advisory, business matching, in-market consultations and co-working spaces. You need to conduct thorough research before investing your money and time. February 11, 2019. ... Swedish companies have every reason to explore business opportunities in Southeast Asia, including the so-called "tiger cub economies" of Indonesia, Malaysia, the Philippines, Thailand and Vietnam. We keep searching out business opportunities in Vietnam. Founded in 1993, Vyea has been developing for 19 years, starting as a young entrepreneur club with only tens of members, to a strong association with more than 9.000 young successful members whose total annual turnover are about US$ 25 billion (equal to nearly 1/5 GDP of Vietnam). The demand for detergent increases daily with more people getting advanced in Vietnam. The good thing about this kind of business is that you do not require much capital but if you are able to advertise your business properly, you will be able to scale the business and become a success. The Vietnam economy is still a growing one and as such even though the concept of the general store might be outdated in some countries, there is still a chance of starting the business in Vietnam and making it successful. Adding your Vietnam local business listing to these online directories is easy. The network of Vyea has been set up in 62/63 cities/provinces of Vietnam and 4 sectors of the economy. In order to create more awareness for your bicycle rental business, you will need to pass out handbills and paste fliers in strategic locations. If you have a nose for scents and a great desire to experiment with various scented oils, then you could go into the production of perfumes. The people of Vietnam always love and appreciate amazing drinks and tasty food. You also have the option to opt-out of these cookies. It is important to note that exploration costs differ as you will need to undergo exploration in order to be able to search for and then extract the oil and gas you need. The World Bank’s Doing Business rankingshas Vietnam at No 104 in the world for ease of starting a business (69 overall globally for doing business), but it does note that reform is underway - it only takes eight procedures now, where it was over 100 a few years ago. Here are sixteen profitable small business opportunities in Vietnam you shouldn’t miss. 1. Business process outsourcing (BPO) Information and communications technology (ICT) is a booming sector in Vietnam. One way Vietnamese SME and local small businesses can get found is by listing in the best free online company directories. This is therefore a lucrative business which you can start, however it is imperative that you study the market well and know not only your target market but also who your competitors are. Viet Nam Chamber of Commerce and Industry (VCCI) Address: 9 Dao Duy Anh Street, Ha Noi Tel: (+844) 3574 2022. Another reason why there is a demand for fast foods is the fact that they have a certificate of food hygiene and safety. In order to stand out in the market, you should create blends that are distinctive and have trusted wholesale suppliers who can supply you the raw materials you need at all times. Attention new entrepreneur! Due to the fact that garment and textile items are amongst the top most exported goods in Vietnam, any entrepreneur looking to start this business is bound to make huge amounts of profit. Detergent powder is used for multiple purposes and as an entrepreneur, you can start the business on any scale depending on the amount of capital you have at hand. A haulage and logistics business is one where you carry items for different companies and this idea is a good one as there are lots of businesses in Vietnam that do not have their own transport or logistics facilities. First, the area where you intend to start the business in matters as you will have a high chance of success where there are no major supermarkets to contend with. The detergent powder is a Fast Moving Consumer Goods (FMCG), that has high potential market growth in Vietnam. about vietnam land area: 331,690 km2 population: 90 million gdp: 176 billion usd A product sourcing agent is one that links sellers and customers. Vietnam Small Business Opportunities, Ideas, and SME Organizations. Follow the link to find the categorized full list of the talented and recognized individuals from Vietnam. You should weigh the advantages and disadvantages of each type and then settle for the one that is likely to enable you achieve your objectives quickly. In starting your product sourcing business, ensure that you hire local Vietnamese workers who not only know the market well but who can get the products at lower rates. If you’re looking to start a business in Vietnam, this session is for you! 50 Best Small Business ideas & Opportunities in Vietnam. In this article we point out most common ways on how to build good relationships with (potential) partners in Vietnam. What you should consider when looking to start your auto rental business is what type of auto rental you intend to operate as there are two types available – daily hire (majorly individuals) and contract hire (majorly businesses). Email: webmaster@vcci.com.vn Website: www.vcci.com.vn . If you want to start your own export/import business and you want to know what Vietnam Exports and what are some of the best business opportunities in Vietnam. You can decide if you want to be a local freight forwarding agent or an international one after conducting a thorough research on which would be more profitable for you or you could combine the two if you have the contacts and capital to do so. There is no home that does not have at least one furniture in it and so going into furniture production is a lucrative business that you can’t go wrong in. You should decide on the niche of cosmetics you want to go into after conducting a thorough market survey so that you will know who your target market is. Are Foreigners Allowed to Own Business in the Philippines? Reach out to beauty stores and supermarkets and engage in intense marketing activities to increase awareness for your perfumes. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. – ASEAN Wholesale Sector and Asian Trade Even though several electronic shops are closing down due to the fact that product replacements are now expensive, and customer preference of replacing damaged products because of the availability of Chinese products which are cheaper, starting an electronics repair shop is not totally a bad idea. – Asian and ASEAN SME Directory, Asian Entrepreneurs, SME’s and Small Business. You should ensure that you carefully choose your routes as the airport might be the best place for your taxi service. Experienced furniture manufacturer specializing in export of indoor household products seeks funds for working capital. This is a capital intensive project and you might need several partners to start it with. It is mandatory to procure user consent prior to running these cookies on your website. Garment and Textile Items; Due to the fact that garment and textile items are amongst the top most exported goods in Vietnam, any entrepreneur looking to start this business is bound to make huge amounts of profit. Vietnam is working towards its goal of becoming an industrialized nation by 2020 while tackling challenges from an over-sized bureaucracy. While the demand for food is stable regardless of the country, in order to stand out from the rest, you can cook meals that are from your own country or you can add a twist to the local Vietnamese food. The TPP has opened up the many restrictive sectors of the economy which means that an entrepreneur whose business activities does not fall under the list can conduct his or her business without fearing hitches from regulated authorities. Features of the economy are open for collaboration between Vietnamese and Dutch business Vietnam. 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