Vietnam’s active participation in multilateral and bilateral trade agreements created a pathway for improvements in the country’s business environment and support local enterprises to grow.

New orders expanded for the forty-ninth month running at the end of 2019, linked by respondents to stronger customer demand.

It is no doubt that 2019 was another successful year for Vietnam’s economy, putting the country in a favorable condition to achieve all socio-economic targets set for the 2016 – 2020 period.

In 2019, Vietnam has witnessed the strong growth in the inbound market, especially Thailand as the number of visitors from that country to Vietnam increased by 45.9% year-on-year.

The consumer price index (CPI) saw an increase of 1.4% in December against the previous month, the highest growth rate for December over the last nine years.

Average registered capital per newly-established enterprise reached VND12.5 billion (US$540,889) during this period compared to the past few years, up 11.2% year-on-year.

This would result in income per capita of VND136 million (US$5,871), significantly higher than Vietnam’s GDP per capita of US$3,000 in 2016 – 2020 and an estimated US$4,688 in 2021 – 2025.