Pest Analysis Vietnam - 1443 Words

COUNTRY ANALYSIS - VIETNAM Political Examining the political situation of Vietnam is complex since country itself represent a colorful political history (Sterling, 2006). According to Thompson G (2009), the policies of the current government operate under the name of communist, however, country’s government has a very positive attitude towards welcoming foreign direct investment (FDI) and developing Trade relations which are the opposite of the whole Communist systems. Vietnam government launched â€Å"DOI MOI† (appendix, P.) economic reform polices in 1986 (adb.org). In January 11th 2007, Vietnam nominated as the 150th member of World Trade organization (business.timesonline.co.uk). Judging form this statement, Vietnam government seem†¦show more content†¦Vietnam is a true emerging market offering ground floor and growing opportunities for foreign exporters and investors. Vietnam‟s major exports reached $70.8 billion in 2010 (Vietnam Business News, 21 June 2011). In this case, raw rubber exportation alone contribute $2.3 billion in 2010 and government expected to rise beyond 3 million in 2011 (agroviet.gov.vn). However, Vietnam Ministry of Agriculture and Rural Development state that there will be limitation on rubber exportation in 2011 due to the increase of local demand. Judging from this statement, it is safe to assume that rubber market is rapidly rising not only in exportation sector but also in local demand sectors. In order to invest in the Vietnamese market, company will have to take into consideration economic factors such as low disposal income, weak currency and high inflation rates. However there are many opportunities to be exploited in the Vietnamese economy and their priority focus on international trade and foreign investment is extremely encouraging. Social The population of Vietnam is over 90.5 million with 69.3% under the age of 64. According to Vijaya Sharma, (Ph.D) instructor’s note, age between 15-64 can be categorized as the labour force. Assume 69.3% of Vietnam population as 100% labour force, 53.9% work in agriculture sectors, 20.3% in industry sectors and remaining 25.88% contribute to service industries (Cia.gov, 2009). Therefore,Show MoreRelatedPEST vietnam1225 Words   |  5 Pagesï » ¿ PEST Analysis On Vietnam PEST analysis of Vietnam  ·Political factors:  · government type: Vietnam is known as a Socialist Republic.  · freedom on economy: Vietnam has not high economic freedom, which score is 51.0. Even though the index of Vietnam can not compare with western developed countries’, however since 1986 the government implement open-door to the outsider world policyRead MoreVietnam And Its Effects On The Country1015 Words   |  5 PagesIntroduction Vietnam is world’s 13th most populous country, majorly consisting of Viet and Kinh ethnic groups. 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