The Best Business Ideas to Start in Vietnam

There are many reasons to love Vietnam, especially if you’re an entrepreneur who wants to explore the Asian market. And if you’re wondering what type of business you should start in this beautiful country, here are some options that you should consider:

• Information Technology

The IT industry has been thriving in Vietnam over the last few years. In fact, there are now more than 45,000 IT businesses in the country, but the demand for these types of companies is still high. If you’re in the IT industry, you can offer services such as software and application productions, fintech, cybersecurity, AI and machine learning, digital transformation, and other technology solutions. The great thing about doing this type of business is that you get to enjoy some good tax incentives from the government.

• Business Consulting

According to research, almost all local businesses in Vietnam are interested in improving their companies by learning from foreign professionals. This is why there’s such a strong demand for consulting firms in different industries that can offer professional advice and guidance to these local businesses. Some of the most sought-after industries include engineering, digital marketing, human resource, and corporate governance.

• Retail

Vietnam’s appetite for retail has been growing over the last few years, boosting the country’s GDP greatly, especially with more people getting into the middle-class economy offering more buying power for the industry. So if you’re in retail, you’d be glad to know that retail and e-commerce businesses are booming in Vietnam, making it a good time to start your business in the country. Here, you can start a physical store that sells clothes, shoes, accessories, and more or start with an online business that caters to Vietnamese customers. Whatever you choose, you can guarantee that there’s a good chance for your retail business to skyrocket in the country, especially with good marketing and a strong branding strategy.

• Coaching

The people in Vietnam are now adopting a more conscious approach to taking care of themselves and improving their skills in different aspects of their life. Aside from going to work, studying and staying at home, Vietnamese are now investing in coaching services that allow them and their families to improve their quality of life. So if you’re in this field, you can offer skills coaching, sports coaching and nutrition coaching solutions for different ages. A lot of Vietnamese people are now also into learning different languages. So if this is your area of expertise, you can offer language lessons for English, Chinese, Korean, and Japanese.

This is definitely the best time to start a business in Vietnam, especially if you’re in these industries. And to make your transition smooth, you can always get in touch with the team at https://vietnam.acclime.com/ to make sure that you have the professional guidance that you need as you establish your company in the country. So what are you waiting for? Kick that go gear on and start your business in Vietnam.