Approximately 96.63 mn people with current birth rate of 1.65%
Ranked 15th in the world (September 2019)
34.4% population live in cities
Rapid aging population with a median age of 30.4 years
70% of the population is under 35 years of age
2018 GDP (nominal): USD 245 bn
2018 GDP growth: 7.08%
2018 GDP per capita: USD 2,587
North: Ha Noi – Capital City (8.053 mn people)
Central: Da Nang (1.134 mn people)
South: Ho Chi Minh City (8.993 mn people)
(April 2019)
Vietnamese (official language)
Literacy rate is 97.3% as of 2016
English taught widely at school as a 2nd language
Vietnam Dong (VND)
Exchange Rate (VND/USD): 23,300 as at June 2019
Vietnam is a high growth and quickly developing country with strong prospects. Since the reunification of the North and the South Vietnam in 1975, the country has been making effort to recover and develop its economy and politics and has achieved massive developments after 33 years economic reform. The country now has stable politics, economic improved rapidly and is ranked in top countries for investment.
The Socialist Republic of Vietnam is led by the Communist Party of Vietnam. Following the commitment to Global integration, the country’s policies and regulations have been opening to foreign investment as Vietnam has joined in WTO, APEC, EV-FTA, CP-TPP, ASEAN, etc., USD35.5bn FDI was registered in 2018, up 1.58 time compared to that of 2013.
The National GDP has maintained the growth level at above 6% y.o.y. As of 2018, National GDP has grown up 7% to USD245bn in which industries and services accounted for 85.5% as the country’s economy shifting from agriculture-based to industry and services.
In September 2019, the country population reached 96.63 million people, ranking 15th in the World with more than 34% habitants living in the cities. The demographic with 61.6% the population in range of 10 – 49 years and rising of middle-income class which is expected to represent 1/3 population by 2020 stimulate spending power.
The country has 3 largest cities: Hanoi City (Capital) in the North, Ho Chi Minh City in the South and Da Nang City in the Central. Southern Vietnam is the most dynamic economic region which contributes significantly to the whole. Still in development stage, the country needs intensive investments in infrastructure including transportation, energy, telecommunication, etc.
Vietnam is strategically located between China and Singapore with 3,260 km of coastline, providing excellent access to Vietnam’s East Sea, one of the major shipping routes in the world. That makes it a geography central hub for Southeast Asia.