Why develop the Vietnamese market? Vietnam market development strategy

Vietnam market, as an important economy in Southeast Asia, has shown a vigorous development momentum in recent years. Its rich natural resources, fast-growing consumer market and constantly improving policy environment make the Vietnamese market have great potential and importance. Developing the Vietnamese market will not only help enterprises to expand their international business and enhance their brand influence, but also bring rich economic benefits to enterprises. Therefore, developing the Vietnamese market is of great significance and value.

Vietnam, the full name of the Socialist Republic of Vietnam, is a socialist country in Asia. It is located at the southeast end of Indo-China Peninsula in Southeast Asia, surrounded by the sea on three sides, with a narrow and slightly S-shaped terrain, bordering China, Guangxi and Yunnan in the north and Laos and Cambodia in the west. The territory is long and narrow, covering an area of about 330,000 square kilometers, adjacent to the South China Sea of China, with a coastline of more than 3,260 kilometers. Vietnam is a multi-ethnic country with 54 ethnic groups, among which Jing (also called Yue) is the main ethnic group. The population is 98.26 million (2021), and the whole country is divided into 58 provinces and 5 municipalities directly under the central government. The official language is Vietnamese and the currency is Vietnamese dong. The main religions are Buddhism, Catholicism, Gaotai religion and Hoa Hao religion. Hanoi, the capital, is the national political and cultural center, with the largest area and the second largest population in the country. In addition, Ho Chi Minh City is the largest port city and economic center in Vietnam, with the largest population in the country. Vietnam's industries mainly include automobile industry, electronics industry and oil and gas industry. By the end of 2020, there were 358 automobile-related production enterprises in China. However, Vietnamese automobile enterprises mainly assemble imported parts, and the localization rate is low, only 5%-10%. In recent years, the leading role of Vietnam's production and export of mobile phones, computers and spare parts has gradually become prominent. In addition, Vietnam is a traditional agricultural country. Cultivated land and woodland account for 60% of the total area. Food crops include rice, corn, potatoes, sweet potatoes and cassava. Since the reform and opening up, Vietnam's economy has maintained rapid growth and its total economic output has been expanding. The tertiary industry structure tends to be coordinated, and the level of opening to the outside world is constantly improving, basically forming a pattern in which the state-owned economy is dominant and various economic components develop together. In 2022, Vietnam's GDP reached 409 billion US dollars. Per capita GDP is $4,110. The GDP growth rate reached 8.02%.

Internet situation

Search engine:

Google Vietnam: Google is one of the most popular search engines in the world, and Google search is also widely used in Vietnam.

VietnamNet: a local search engine in Vietnam, providing localized search services. Coc Coc: a local search engine in Vietnam, focusing on providing localized search services. E-commerce platform:

Lazada Vietnam: Lazada is one of the most popular e-commerce platforms in Southeast Asia, and it also provides various commodities in Vietnam.

Shopee Vietnam: Shopee is also a popular e-commerce platform in Vietnam, providing various goods and services.

Tiki.vn: Tiki is a local e-commerce platform in Vietnam, providing a wide range of product choices, including electronic products, clothing, books and so on.

Sendo.vn: Sendo is a local e-commerce platform in Vietnam, providing a variety of goods and services, including clothing, beauty products, household items and so on.

Thegioididong.com: This website focuses on electronic products and is one of the largest retailers of mobile devices in Vietnam.

Cross-border selling products in Vietnam 1. Electronic products and equipment: including electronic components, televisions, mobile phones, etc.

2. Mechanical equipment: covering all kinds of mechanical equipment and industrial machinery.

3. Textiles and clothing: including textiles, footwear and clothing.

4. Plastic products: all kinds of plastic products and plastic raw materials.

5. Steel and metal products: covering all kinds of metal products and steel products.

6. Chemical products: including fertilizers, plastics and chemical raw materials.

7. Means of transport and parts: including automobiles, motorcycles, automobile parts, etc.

8. Household appliances: including household appliances, such as refrigerators, washing machines and air conditioners.

Export certification to Vietnam

Certificate of Origin (CO): certificate of origin of export products. This is usually awarded by the local chamber of commerce or government agencies. Commercial Invoice: describes the detailed information of the exported goods, including quantity, unit price, total price, etc. Packing List: List the goods in each package and their packaging details. Transportation Documents: including Bill of Lading or Airway Bill, which prove the transportation of goods. Certificate of Inspection: A certificate for inspection of goods, which may sometimes be issued by an inspection agency in the producing country. Health and Phytosanitary Certificates: Certificates for food, agricultural products and plant products to ensure that they meet Vietnamese health and phytosanitary standards. Quality and safety standards certification: Certification for specific products may be issued by relevant standardization organizations in Vietnam. Import license: For some products, Vietnam may require importers to obtain import licenses issued by the government. Environmental compliance certificate: For some environmentally sensitive products, it may be necessary to prove that they meet Vietnamese environmental standards. Patent, trademark, and intellectual property certificates: to prove that the product does not infringe the intellectual property laws and regulations of Vietnam.

Vietnamese consumers demand digitalization and online shopping: With the popularity of the Internet, Vietnamese consumers are increasingly inclined to use smart phones and other digital devices for online shopping. E-commerce platforms such as Lazada, Shopee and Tiki are very popular in Vietnam.

Food and beverage: Vietnamese consumers are increasingly concerned about quality and health awareness. The demand for natural, organic and healthy foods is rising gradually. At the same time, the import of foreign food and drinks is also increasing.

Fashion and beauty: Vietnamese consumers' demand for fashion and beauty products is increasing gradually. Cosmetics, clothing, accessories and skin care products are popular in the market.

Education and training: Education is an important investment field for Vietnamese families. Parents are usually willing to provide their children with good educational opportunities, including tutoring courses and language training.

Tourism and leisure activities: With the improvement of economic conditions, Vietnamese tourism and leisure expenditures are also increasing. Domestic and international tourism, restaurants and entertainment activities have become areas of concern to consumers.

Home furnishing and decoration: With the rise of the middle class, Vietnamese consumers' demand for home furnishing and decoration products is gradually increasing. The market for home decoration, furniture and household items is also expanding.

Influence of social media: Social media is very popular in Vietnam, which has an important impact on consumers' shopping decisions. Brands are marketed and promoted through social media platforms to attract the attention of Vietnamese consumers.

Marketing Strategy Market Research: Learn more about the Vietnamese market, including the preferences of the target audience, cultural differences, shopping habits, etc. Through investigation and analysis of users' needs, the positioning and characteristics of products in Vietnam market are determined.