With a stable political and macroeconomic environment, young, low-cost workforce and outward-looking reforms, Vietnam has transformed itself into one of the strongest developing economies in the world. Its Doi Moi policy, implemented by the government in the late 1980s, has featured a range of tactics aimed at increasing its attractiveness to foreign investment and building a resilient, modern economy.
Today, the government continues this commitment to world trade with numerous treaties, including the EU-Vietnam Free Trade Agreement, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and strategies to continue reforms to legislation and bureaucracy. In the last few years, Vietnam has also shown impressive ambition to get ahead of digitisation and industry 4.0. The country is rolling out its 5G network, has a thriving ecommerce sector and is currently in the process of a variety of e-government initiatives.
HSBC has had a presence in Vietnam since 1870 and, in 2009, became the first wholly-owned foreign bank to incorporate in the country and the first to operate both branches and transaction offices. In the years since, HSBC has secured numerous awards across both products and services, including Best Foreign Bank and Best International Retail Bank. HSBC has a long history in Vietnam and can provide a comprehensive range of cross-border and financial services to suit both your personal and business needs, whether you are moving to the country, working in the area, or purely investing or doing business in Vietnam.
Please get in touch to find out how HSBC can support you and your business in Vietnam.