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Vietnam Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
96,160,163 (July 2017 est.)GDP (PPP)
$647.4 billion (2017 est.)6th largest economy in Southeast Asia
GDP growth rate
6.8% (2017 est.)Very high and slightly accelerating
GDP (PPP) per capita
$6,900 (2017 est.)Very low
Local currency
Dong (VND)Weak currency, nevertheless it has been quite stable in the past 5 years
Financial stability (Public debt)
58.2% of GDP (2017 est.)Medium to high but shrinking
Inflation
3.5% (2017 est.)Medium to high but accelerating
Language
VietnameseEnglish (increasingly favored as a second language), some French and Chinese
Corruption perception index (Source: Transparency International)
107/180Very high level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
10% standard rate 5% reduced rate for essential goods and services
Corporate Tax
20% standard rate 32% to 52% for oil and gas companies 40% to 50% for companies engaged in the extraction of mineral resources Preferential rates of 10%, 15%, and 17% are available where certain criteria are met
Duties
Import duty rates are classified into three categories: ordinary rates, preferential rates, and special preferential rates
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