Vietnam Is a Land of Potential Opportunities

According to Nielsen, Vietnam consumers is the motivation for economic development as they are willing to spend more and are also living in the lands of the potential opportunities. By 2020, Vietnam middle class will grow double, from 12 million people in 2014 increased to 33 million people in 2020.

Vietnam is among the top countries with the most optimistic consumers in the world, with more income and more spending. The percentage of increasing in per capita income rose in 2012 by 44% compared to 2010. The average growth rate of the monthly spending per person in 2012 increased by 32% compared to 2010. Therefore, Vietnam people have a strong desire for a better life, demanding about quality when 73% of people are willing to pay for higher quality.

Health is an important issue while there are 39% see health as the most concerning problem in life. Vietnam consumer’s monthly savings is to prepare for future problems, while 34% goes for the future of children, 12% is for health and 11% savings for house purchasing.

Consumers in Vietnam are also having more opportunities for shopping than ever. Modern trade channels are gaining significant role when 42% of consumers buy groceries at the supermarket more often. However, the utility factor is gradually becoming a way of life and developing quickly because of the accordance with the youth and officer with 23% of students and 36% of officer go shopping in the supermarket, convenient shop.

However, grocery store is still the dominant shopping channel in the market, while over 80% of sales of fast moving consumer goods coming from grocery stores, with 1,3 million stores across the country.

Technology offers more opportunities to help Vietnamese consumers connect. Smartphone is booming in Vietnam when nearly 1 in 2 Vietnamese people owning a smartphone, most of rural consumers watch TV daily. Online sales channel has also been in the market with 28% of Vietnamese consumers prefer online shopping.

ANT Consulting is here to assist you from the outset; providing intelligence, information, management or support and administrative services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:

• Market Entry
• Tax Advice
• Legal Advice
• Outsourcing Services

We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.

We could be reached at email: ant@antconsult.vn or tel: +848 3520 2779 .  To learn more about us, please visit www.antconsult.vn

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Benefits of Setting Up Business in Danang

Danang is considered an ideal destination for investment. The result shall be incredible where we evaluate on the following aspects:

Danang – one of the strategic economic centers of Vietnam’s central region

In March 13^th, 2004, the prime minister signed a decision to establish central region’s strategic economic center, including 05 provinces and cities: Thua Thien Hue, Danang, Quang Nam, Quang Ngai and Binh Dinh to promote potential, geographical location and competitive advantages and step by step develop this economic region to become one of the most dynamic economic region in the country. In particular, Danang is defined as the role of nuclear motivation for promoting the development of the central region and the highlands.

Danang – eastern gateway of east – west economic corridor (EWEC)

EWEC is one of five economic corridor developed by the initiative of the Asia development bank in the greater Mekong sub - region.

Benefits of Setting Up Business in Danang

Currently, the road system in Laos, Thailand and the road line from Danang to Savannakhet are completed. The second international bridge spanning the Mekong river was completed in the end of  2006 to facilitate the circulation of goods and passengers by road line from Danang to the northeastern provinces of Thailand and vice versa. East-west economic corridor not only provide an opportunity for the country on the path of promoting regional cooperation and improve living standards for the people but also enable businesses better access to the raw materials market services, capital, labor and technology with the purpose of creating favorable conditions for investment and trade across the border and diversifying economic activity and exports and promoting tourism development

Danang - entrance of the cultural heritage and natural wonders of the world

Danang is located in the heart of the "world heritage road", stretching from the central coast of Vinh city to Da Lat city. From Danang, along the national highway 1A, visitors can access quickly and conveniently four of five world heritages in Vietnam, including Phong Nha - Ke Bang national park (about 300 km from the north of Danang), the ancient capital of Hue (about 100km from the north), Hoi An (about 30km from the southeast) and My Son (about 70 km from the southwest).

With the advantage of geographical location and potential economic development in tourism, Danang is an ideal destination for tourists as well as investors.

Infrastructure is step by step improved

Danang is an important traffic hub of the central  - highlands and country with system of international airports, deep sea ports, roads, north-south railways  developed conveniently.

Danang port is the third largest commercial ports in Vietnam after Saigon port and the port of Haiphong. With a depth of 11m wharf, warehouse systems and equipment upgraded by capital funds of the government of Japan, Danang port can receive ships with a capacity of 45,000 dwt and others such as container ships, passenger ships, cargo ships. Danang is the international shipping route anabling to go to Hong Kong, Singapore, Japan, Taiwan and Korea.

Danang international airport is one of the three best airports in Vietnam. In addition to domestic flights, there are weekly international flights directly from Danang to Singapore, Bangkok, Taipei. In the near future, the airport will open more routes to Hong Kong, Japan and Korea. Danang international airport is currently being upgraded and expanded to meet the needs of increasing passengers and cargos.

The system of roads in and out of the city are constantly being expanded and newly constructed

Telecommunication systems: Danang is one of three major telecomunication centers of the country, international transmission speed with good quality of  Southeast Asia. Danang post provides various and modern telecommunication services and be capable meeting the needs of customers.

The other services supporting investment (financial, banking, insurance ...): most banks and finance companies of Vietnam have large branches in Danang. Some branches of foreign banks and international insurance companies are operating effectively in the city. These services have increasingly been improved better to meet the needs of investors.

Trained and abundant human resources

Danang has abundant human resources (over 50% of the population of the city), mostly young labor. Number of employees with technical expertise trained account nearly a quarter of the labor force. Labor costs in Danang are lower than some other cities in the country.

Danang is one of the provinces in the country with the high educational development index which create a favorable platform for the development of human resources of the city to perform the goal of improving the quality of human resources, quality of life. The city has about 14 universities, 15 colleges and professional schools with nearly 140,000 students. This system performs training in most areas of science, engineering, information technology, economics, business administration, language and pedagogy... Danang university also cooperates with universities of countries with an advanced education such as France, US, Japan, Australia, Canada, New Zealand ...

Software technology center in Danang is one of the leading software producers in Vietnam and is the leading training center of the central region. Over the years, the software technology center  has cooperated closely with companies of India (aptech) and Japan (aots) to train programmers, technicians and engineers reaching the international standard.

In addition, the city also has about 55 vocational training centers which often provide short-term training courses in computer science, sewing, mechanics, electricity - electronics, construction techniques, etc ...

Quality of life

Along with the process of urbanization, economic growth in recent years has helped to material life and spirit of the people of Danang continuously improved.

Unlike other large cities in Vietnam, next to the bustle of urban development, living in Danang always bring a sense of peace, comfort and closeness to nature. Danang is one of the very few cities in Vietnam having a harmonious combination between high mountains, deep forests, long beach, deep river. After work, you can easily find space to relax beside the river or on beautiful beaches.

Danang today is a city with a healthy cultural environment, with urban civilized lifestyle, literacy levels elevated, beautiful natural scenery. It can be said that Danang is an exciting place to live, work, travel  and invest in Vietnam.

If you wish to explore investment opportunities in Danang, or set-up company, business in Ho Chi Minh City in particular or in Hanoi or in Vietnam in general, please contact us via email ant@antconsult.vn or call our office number: +848 35202779 (HCMC) or +844 39388751 (Hanoi).

ANT Consulting, let us help your business in Vietnam.

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