Tubudd News

31.03.23

The best businesses to start in Vietnam for foreigners

Huyen Nguyen

Vietnam has emerged as one of the most attractive destinations for foreign investment in recent years. The country's economy is rapidly growing, and its population is increasingly well-educated and tech-savvy. If you are a foreigner looking to start a business in Vietnam, there are several opportunities worth considering. In this blog post, we will explore some of the best businesses to start in Vietnam for foreigners.

1. Manufacturing

Vietnam is one of the world's largest manufacturing hubs, and there is still plenty of room for growth in this sector. The country has a large and young workforce that is eager to learn new skills and take on new challenges. As a foreigner, you could set up a manufacturing operation in Vietnam to take advantage of the country's competitive labor costs and favorable business environment.

2. Information Technology (IT)

Vietnam's IT industry has been growing rapidly over the past decade, thanks to the country's talented and affordable workforce. As a foreigner, you could start an IT business in Vietnam by offering software development, web design, or digital marketing services. You could also explore opportunities in emerging fields such as artificial intelligence (AI), blockchain, and the Internet of Things (IoT).

3. E-commerce

E-commerce is booming in Vietnam, with the market hit US$14 billion in 2022 and may reach as high as US$32 billion by 2025. The country's young and tech-savvy population is driving this growth, and there is a huge demand for online shopping platforms and services. As a foreigner, you could start an e-commerce business in Vietnam by setting up a website or mobile app that connects buyers and sellers.

4. Food and Beverage

Vietnamese cuisine is world-renowned, and the market is forecast to grow by over 18% this year. As a foreigner, you could start a food and beverage business in Vietnam by importing or producing high-quality ingredients and products. This could include everything from specialty coffee to craft beer to organic produce.

5. Education and Training

Vietnam has a highly educated population that places a high value on education and professional development. As a foreigner, you could start an education and training business in Vietnam by offering language classes, tutoring services, or online courses. You could also explore opportunities in vocational training and professional certification as Vietnam will concentrate on increasing the quality and efficiency of vocational training to meet the need for skilled laborers for modern industrial production by 2030.

6. Renewable Energy

Vietnam is committed to developing its renewable energy sector, with a goal of generating 10% of its energy from renewable sources by 2030. As a foreigner, you could start a renewable energy business in Vietnam by investing in solar, wind, or hydroelectric power projects. You could also explore opportunities in energy storage, energy efficiency, and green building.

7. Tubudd's Business Assistant can help with your business in Vietnam

If you're a foreigner looking to start a business in Vietnam but don't know where to begin, Tubudd's Business Assistant can help. Our team of experienced business assistants can provide you with the guidance and support you need to simplify the complex process of starting a business in Vietnam.

All your administrative tasks will be handled, freeing you up to focus on your business's goals. Business Assistant also facilitate communication with professionals and company owners who share your interests, making it simpler for you to approach and resolve your commercial strategies in the Vietnam market. Whether you need advice on a specific business challenge or are looking to expand your network, we can refer you to relevant people in the field to help you achieve your business goals. You can save time and money while minimizing the risks associated with starting a business in a foreign country.