Vietnam is one of the fastest growing markets in the world. PWC expects an average annual GDP growth rate of 5.1% until 2050. This growth is mainly attributed to the positive development of the local manufacturing sector. These developments lead to numerous opportunities for international companies in sales and purchasing.
Low wages, positive legal conditions and an advantageous geographic location let Vietnam become a workbench for the markets in East Asia and worldwide. Local manufacturers have become an attractive alternative to Chinese suppliers, especially in metal processing, electronics and textile.
Vietnam’s manufacturing industry has a high demand for machinery, equipment as well as other related products and services. Moreover, the ongoing industrialization process of the country creates an increasingly wealthy middle class, which appreciates German consumer goods. Because of rising wages the building sector is also booming. Demand of construction above and below ground for high-quality building materials and services are soaring.