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Vietnam Business Report

General information
Source: The World Factbook - Central Intelligence Agency
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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
Vietnamese

English (increasingly favored as a second language), some French and Chinese

Corruption perception index (Source: Transparency International)
107/180

Very 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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