Vietnam is developing rapidly and its business environment is dynamic, although it can still be a little constrained by old-fashioned values and over-regulation. But the economy is robust and has seen steady growth since the 1990s.
In The World Bank’s 2018 Ease of Doing Business Survey, Vietnam was ranked 68th out of 190 countries, scoring particularly well in dealing with construction permits and getting credit.
Even though the country felt the effects of the global economic downturn, it has made a rapid recovery. In recent years, there’s been an influx of businesses wanting to diversify their operations away from China. It’s an also attractive destination for entrepreneurs looking to set up new ventures – and the Vietnamese government is trying to change legislation to make this easier.