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Company and Market Overview on Vietnam

Economic climate. In 1986, the Vietnamese government abandoned its Marxist financial policy and
implemented "doi moi" (renovation) involving financial structural reforms. These reforms integrated
modernising and liberalising the economic climate and establishing a lot more export driven
industries. Vietnam joined the Association of Southeast Asian Nation (ASEAN) and grew to become a
signatory of the ASEAN Cost-free Trade Agreement (AFTA). The US-Vietnam Bilateral Trade
Agreement in 2001 has brought major adjustments to Vietnam's economic climate and hopes to
become a member of the WTO in 2006.
Vietnam's GDP grew at an average of seven.3% yearly in 2000-2004 and reached US$44.5 billion by
2004 and unemployment declined from six.four% in 2000 to 5.six% in 2004. However, inflation
steadily elevated reaching 7.8% by 2004 and prompted Vietnam's government to implement
monetary and fiscal controls to control inflationary pressures.
The manufacturing sector contributed in direction of forty.1% of Vietnam's GDP in 2004 while the
services sector contributed 38.two%. The agriculture sector contributed in the direction of 38.7% of
the country's GDP in 1990 but declined to 21.8% by 2004. Major industries include processed meals,
garments and sneakers, mining (coal and steel) cement, fertilisers, glass, tyres, paper and
petroleum. Key agriculture items incorporate rice, coffee, rubber, cotton, tea, pepper, soybean,
cashew nuts, peanuts, sugar cane, peanuts, bananas, poultry and seafood.

DEMOGRAPHY. Vietnamese (also identified as Viet or Khin) is the key ethnic local community
accounting for virtually 86% of the country's population and reside mostly in the eastern half of the
nation. Minorities consist of Chinese who reside mainly in the urban places, Khmer Crom (associated
to the Khmers of Cambodia), Tays and Montagnards who reside in the mountainous areas of the
nation.In a government census, about 80% of the population do not subscribe to any religion but
among individuals who do, 9% are Buddhist and seven% are Christians. Other religions practiced
consist of Islam, Cao Dai and Hoa Hao. The nationwide language is Vietnamese and languages
spoken amongst the minorities consist of Tay, Muong, Khmer and Chinese (primarily Cantonese
Vietnam seafood and Mandarin). English is the favored 2nd language but typically understood and
spoken between the educated elite
The majority of the Vietnamese population reside in the rural regions but the proportion of the urban
population is slowly growing from 19.7% in 1990 to 26.% in 2004. Vietnam's greatest city is Ho Chi
Minh City (population 5. million) and Hanoi (population of 3.5 million) followed by Nai, Haiphong
and Dac Lac.
Household earnings in Ho Chi Minh City is virtually three times the national common - the city
accounts for virtually half of all the motorbikes in Vietnam. An estimated 20% of the population
dwell beneath the poverty level and mainly from rural households. 10%-15% of the households are
middle to higher-revenue households whilst 65%-70% are lower-income households.
INFRASTRUCTURE. Vietnam's telecommunication systems lag behind many neighbouring countries
in the region and for that reason government puts fantastic emphasis on its modernisation. Digital
exchanges now linked to Hanoi, Da Nang, and Ho Chi Minh City and primary lines have increased
while the use of mobile telephones is expanding. The nationwide road technique stretches from the

northern to southern tip of Vietnam. Northern and southern Vietnam are served by two worldwide
airports and two primary sea ports serving global shipping.
Global TRADE. Vietnam's major trading partners are the US, Japan, China, Australia, Germany,
Singapore, Taiwan, Thailand and South Korea. Key exports include oil, seafood, rice, coffee, cashew
nuts, rubber, tea, garments and shoes. Major imports consist of machineries and equipments,
petroleum products, fertilisers, steel goods, cotton, grains, cement and motorcycles.

Buyer Utilization OF Engineering. There have been virtually ten.1 million telephones set up in
Vietnam and nearly 5. million mobile mobile phone subscribers in 2004. The government is putting
substantial efforts to modernise and improve the country's telecommunication system but even now
lags in contrast to Singapore, Thailand and Malaysia. Pc penetration is minimal estimates Vietnam
seafood vary from two% to four% of the population in 2004 and an estimated 5.8 million web
customers. The penetration of television is only twenty% and concentrated to residences in the cities
and towns. Similarly, installation of refrigerators is concentrated in the cities the place 60% of the
properties have refrigerators.

RETAIL Market. Retail product sales in Vietnam grew by eight%-twelve% annually from 2000 to
2004 brought about by escalating disposable earnings due to the country's powerful financial
growth. Vietnamese shoppers devote two-thirds of their earnings on retail purchases amounting to
US$sixteen.3 billion in 2004. Traditional wet markets and the "mom and pop" shops dominate the
retail business accounting for 95% of the complete retail trade. A lot of of these retail stores
measure no far more than five square metres (54 square feet). Modern retail establishments are
constrained but progressively emerging in the nation and generally locally owned organizations
concentrated in Ho Chi Minh City and Hanoi.
Meals CULTURE. Rice and noodles are the staple food of the Vietnamese but taste preference differs
by region. Foods in central Vietnam are spicier while meals in northern and southern Vietnam are
significantly less spicy and have a tendency to be saltier. The Vietnamese Vietnam seafood typically
dip their food items with chilli, garlic or fish sauce to include flavour. The French colonialists
introduced European style bread and bakeries into the Vietnamese food culture. Western style
quickly meals service establishments are starting to emerge alongside the classic snack bars, cake
outlets and mobile foods carts.
Viet Asia Foods - U.S. Office

72-49 Loubet Street, Forest Hills, NY 11375


Tel: 646-688-4899 - Fax: 646-216-9789 - Email:
info@vietasiafoods.com
Website: http://www.vietasiafoods.com