Vietnam's market Potential

Read Case 2.1 - Vietnams Market Potential and answer the following questions:

1.          reason the market opportunities in Vietnam.

Vietnam is a centr completelyy planned economy, and is non a member of the World stack Organization. Virtually all aspects of doing business in Vietnam involve government approvals, dominated by state-owned companies which receive considerable protection, in procurement practices, as comfortably as, through customs policy and administration. All product imports must be done through registered import agents. Many of these be newly established, with uncertain reputations.

Vietnams human capacity and natural resources argon impressive. Of its 80 million batch, more than half ar to a lower place the age of 25, 96 percent are literate person, and most of these problematical working people have an insatiable drive to adopt English and Information technology skills. For example, manufacturers benefit from this low-cost literate workforce by paying total monthly salaries of precisely $40-50 for unskilled workers with a basic education, $200 for an English public speaking engineer and $500 for project managers. Compared to many places in China, thats a bargain. As important, Vietnam is rated as one of Asias safest places to do business.

Vietnam is moving from a centrally planned and controlled economy to a market economy. The countrys leading believes that it must ready the country to join the World Trade Organization.



With this opening of economic opportunity to the people of Vietnam, many businesses are looking for new markets.

Vietnams consumer market is only now on the cusp of full blown market economic growth, the last(a) vestiges of the communist, state-controlled economic system now being taken down. Only in Vietnam do you find a people who prefer Ford over Toyota and RCA over Sony. Give an intermediate Vietnamese a choice between a Nike and a European-made show, and they will choose Nike. Its a paradox,

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