A country in constant development
Vietnam has become an alternative to other countries in Asia. With relatively low labor costs compared to other Southeast Asian countries, an abundant Agriculture and a growing Industry, Vietnam is one of the most dynamic economies in the world, still on the decade to come. Of the ten ASEAN members, Vietnam has become the EU's second most important trading partner after Singapore. The on-going Free-Trade agreements with European and US markets will provide more opportunities for the Vietnamese industry in the near future. Vietnam is regarded as one of the quiet success stories of Asia.
An Agricultural and Industrial Economy
With its over 1 million km2 of long coastline stretching from the North to the South, Vietnam benefits from a big potential to export aquaculture products. Nowadays, Vietnam’s Fishery Industry reaches the Top 3 in Asia regarding exports.
Thanks to a dynamic industrialization, Vietnam has been able to grow its textiles sector rapidly in recent years. Indeed, clothing and apparel would make up around a fifth of the growth in Vietnam’s exports from 2013 to 2015. Vietnam’s exports are also largely weighted towards wood manufactures and telecoms equipment.
Vietnam's agricultural sector is at a turning point as it starts to become more consumer-oriented rather than driven solely by high-volume output differentiating itself from its competitors like China. It has made enormous progress. The country has emerged as one of the world’s leading exporters of agro-food commodities and is among the top five for aquatic products, rice, coffee, tea, cashews, black pepper, rubber, and cassava. 2017 is a key year in the implementation of the national socio-economic development plan and the agricultural development plan for the 2016-2021 period.