Dezan Shira Managing Partner Provides Key Insights into Vietnam and the Most Recent Regulatory Updates
On May 16, 2018, Alberto Vettoretti, Managing Partner of Dezan Shira & Associates, partnered with the American Chamber of Commerce to provide updates and information relating to Vietnam and its continuing push for foreign investment.
Economic reforms have dramatically transformed Vietnam from one of the world’s poorest countries 25 years ago, to a lower middle-income country today. The country has had an average annual GDP growth rate of 6.9% since 1990 and continues to rank as one of the fastest growing Asian economies. The World Bank estimates that Vietnam, with the right economic reforms and macroeconomic variables, will see its average income more than double to USD7,000 in 15 years.
The country is at a turning point of reform and development. For foreign investors and enterprises, significant opportunities await, such as the recent conclusion of a Free Trade Agreement between Hong Kong and ASEAN, the latest development of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the country’s strategic supply-chain location, and China’s Belt & Road Initiative. However, tough challenges remain, such as the country’s weak private property and environmental protections and lack of governmental transparency.
The main question asked at the event are：Will the government implement much needed market reforms and Will the macroeconomic opportunities sustain this new Asian tiger into the next decade?
Mr Vettoretti touched on the overall investment environment in Vietnam, first hand investor experience on the opportunities and challenges faced by foreign investors. Mr Vettoretti has gained valuable insight into operating in Vietnam through Dezan Shira & Associates’ Hanoi and Ho Chi Minh offices.
For further inquiries about doing business in Vietnam, please contact Alberto directly here.