If you have been to Vietnam, you'd most likely see a large disparity in income among the Vietnamese population. It is a common complain that "the rich are too rich, and the poor are too poor". In my latest chat with a recent Vietnamese immigrant, this person confirmed the complain with her own experience and further added that equality is getting worse by the year. That … [Read more...] about Vietnamese Are Richer Than You Think
GDP
Long Waits Could Hurt Economy
Vietnam is a booming economy since 1990 and it's growing even faster over the year. When compared to the region of South East Asia, Vietnam has been in the lead of GDP growth since 1995 until now. Despite the worldwide financial crisis of 2008, Vietnam is still among the highest growth economies in the area: (source) However, please note that highest growth rate DOES NOT … [Read more...] about Long Waits Could Hurt Economy
Trade Deficit in Vietnam: Good or Bad?
If you read my last article, you will notice that Vietnam's trade deficit is on the rise for the past 5 years. Furthermore, the growth seems to be exponential rather than a constant level. What does this mean? Are Vietnamese spending too much instead of saving? Is Vietnam's economy unstable and will collapse in the near future? Let us take a closer look at some statistics to … [Read more...] about Trade Deficit in Vietnam: Good or Bad?
Buying and Selling with Vietnam
Vietnamese economy is among the fastest growing economies in the new millennium - average 6.5% within the last 10 years (source: CIA Factbook). Industries are gradually shifting away from agriculture productions and more into manufacturing and services: (source: EU Trade Commission - click for large size) Also, GDP per capita has been growing and is currently at its highest … [Read more...] about Buying and Selling with Vietnam
Doing Business in Vietnam Series: 1. Taxes
Vietnam has been on a high real GDP growth rate (which is adjusted for inflation) since it started the economic renovation phase. In fact, its growth rate once ranked 2nd in the world with 8% annual GDP growth rate in the 90's and 7.5% in the 2000's up to right before the current global financial crisis. Even in this crisis, Vietnam real GDP's growth rate is still on the rise … [Read more...] about Doing Business in Vietnam Series: 1. Taxes