Doing Business in Vietnam – Opportunities for the Energy and Infrastructure sectors
As one of the South-East Asia’s rising stars, Vietnam is an increasingly attractive export destination and investment hub. Despite the ongoing impacts of the COVID-19 pandemic, Vietnam’s economy grew at 2.91% in 2020, putting it among the top 10 countries globally.
Join the Department for International Trade (DIT) North East and DIT Vietnam for a FREE webinar to hear:
- An overview of the Vietnamese market, including the benefits and challenges of doing business in Vietnam
- The opportunities in Vietnam’s fast-growing energy and infrastructure sectors
- A panel discussion with British businesses who are already succeeding in Vietnam
The UK – Vietnam Free Trade Agreement (UKVFTA) applied since 1 January 2021 has provided better market access, as well as tariff reductions on trade between our two nations. This is opening up further opportunities for British businesses to export to, collaborate with and invest in Vietnam.
This is a great opportunity to find out about the opportunities for your business in Vietnam and explore your potential within this market!
About Vietnam’s Energy Sector
- Vietnam has the largest renewable energy installed capacity in South East Asia
- Energy demand in Vietnam has grown over 10% per year over the last decade
- In 2020, renewable energy in Vietnam reached 25.3% (equivalent to 17.5GW) of the energy mix, which is 10 years ahead of the nation’s target according to the Power Development Plan 7
- The total market value of this sector is estimated at 36 billion USD across solar, wind, hydro, and biomass between 2021 and 2025
About Vietnam’s Infrastructure Sector
- Vietnam spends 5.7% of its GDP on infrastructure – the highest proportion of GDP of any country in South East Asia
- Over the past decade, Vietnam has been one of the fastest-growing economies in Asia and with that comes the development of infrastructure to keep up with demands
- The government has prioritised transport infrastructure with plans to increase investment, particularly through some major projects including metro lines in Hanoi and Ho Chi Minh City as well as the high-speed North-South railway
- With investment estimated to reach $480 billion by 2030, the infrastructure sector creates huge opportunities for bilateral trade between Vietnamese and British businesses in both goods and services