With countries that are not overly famous like Vietnam, investors don’t know what to expect when considering them as an investment option. However, it is without an iota of doubt that Vietnam is a treasure trove in the making, just waiting for its moment to burst out of its shell.
How so? Get this, Vietnam back in 2019 before the COVID-19 pandemic recorded an all-time high of 18 million visitors, and although the pandemic and lockdown brought the numbers down by a huge margin, it has bounced to 13 million as recorded in 2023 and is expected to rise even further by 2024.
This is mainly because of Vietnam’s tourism sector. The picturesque landscape and diverse yet rich culture also the hospitable locals have attracted a lot of people internationally.
Add the fact that buying real estate in Vietnam for investments is not the most complicated process you’ll ever go through, tourists, businessmen, and investors are setting their sights on this land in recent times. That begs another question though, what is in Vietnam?
Notable Locations in Vietnam
Vietnam is a country rich in culture; as stated earlier, its advantage comes from the fact that they are probably one of the countries with the most preserved historical sites. Let’s not even mention that they have eight UNESCO World Heritage sites in the country, in Vietnam you can find sanctuaries, pagodas, temples, and such.
It is a fine place overall but there are some attractions and landmarks that draw in a lot of people. Having this information might help you better in planning your investment or setting up a business.
Some structures have been acknowledged by UNESCO as being outstanding educationally, scientifically, and culturally. Vietnam has eight in their country with way more than that and these heritage sites have some of the most visitors every year. They can be considered when making your plans for a business venture or an investment in Vietnam. The eight sites and their locations are:
- The Imperial Citadel of Thang Long in Ha Noi
- Phong Nha-Ke Bang National Park in Phong Nha
- Hue Complex of Monuments in Hue City
- My Son Sanctuary in Duy Phu
- Citadel of the Ho Dynasty in Vinh Tien
- Hoi An Ancient Town in Hoi An City
- Ha Long Bay in Ha Long City
- Trang An Landscape Complex in the Red River Delta Area.
Tourism in Vietnam has been drawing favorable attention from the government because it is on the rise now and has now become their main source of economic power. There are still other places that have the same appeal as the UNESCO World Heritage sites and also have the people-pulling power.
The rest of the list includes the popular cities in Vietnam that have proven to be able to gather a lot of diverse cultures and interests. These are locations that have been considered as best for different types of businesses:
- Ho Chi Minh City: As the most populated city in the country, it is an important and strategic location not only in Vietnam but in Southeast Asia. As a hub for economics, it is easily one of the most accessible cities in Vietnam. So, try to consider this city as one of your top options when planning your business.
- Hanoi: Hanoi is the capital of Vietnam and has been getting the most attention from the government in terms of development. In a few years, Hanoi might be a top choice for anyone as even now it is rapidly being developed. It is currently the most urbanized city in Vietnam and it is suitable if you are looking to set up businesses related to tech and E-commerce.
- Hai Phong: This is another developing city that dabbles in tech-related business, also a good spot if you are looking to set up something related to technology. However, Hai Phong’s development is mainly in the path of importation and exportation. It is a coastal city and the Vietnam government is taking really good advantage of this by building ports around the city to import and export goods. This place is also reportedly close to China, so definitely a place to keep an eye on and consider in your plans.
- Da Nang: This article has emphasized how much of a tourist magnet Vietnam is, so it wouldn’t be right to not include the city that possibly hosts the most tourists every year. Da Nang is where most tourists would love to stay or visit at least. No one can deny that the beaches are beautiful and exotic, with their breathtaking views. The restaurants are also there to serve you the best Da Nang has to offer. You should know that Da Nang has 3 heritage sites. Also, when it comes to Central Vietnam, you wouldn’t find any other city as big as Da Nang which makes it a central hub of its own.
Going through the prospective locations for investments and business ventures is good but which kind of business works in Vietnam?
Profitable Ventures in Vietnam
The world itself is dynamic, with things always changing. Currently in Vietnam, a few industries are booming and are worth your investment. If you are thinking of setting up a business in Vietnam, then consider the following industries for investments:
- Real Estate Management
- Construction
- Manufacturing
- Fintech and
- E-commerce.
The above-mentioned industries are just from popular opinions, this doesn’t mean other businesses don’t prosper in Vietnam, quite the opposite as Vietnam’s economy is currently on the rise, it is safe to say any venture could work here as well.
Real Estate in Vietnam
You can’t forget to include real estate and housing properties for your business in the plan right? If you are wondering how real estate in Vietnam is, then worry not, you can easily solve any worry or problem that comes with buying real estate properties in Vietnam with Vietnam-Real.Estate.
They are a real aggregator with a long list of properties for sale or for rent in Vietnam. Whether you are looking for housing properties or commercial properties in Vietnam, trust them to pave the way for you. When it comes to commercial properties for your business, you can find warehouses, shops, offices and office space, staff accommodations, hotels, restaurants, etc using the website.
It is not only convenient in the sense that there are already visual representations of the properties on the site, but they also include the pricing, location as well as contact sessions with professionals to discuss your options.
Vietnam and Business
To conclude, you’ll find that nothing is as complicated as you would think in Vietnam. Foreigners can 100% own a business in Vietnam and so can they own properties as well. So far as one goes through the right processes of getting your permits etc. This might be the opportunity you have been waiting for, whether Vietnam is worth venturing and investing is for you to decide albeit with a little more research.
