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GlobalCom’s market barometer: Vietnam

Today the VERO Public Relations team reports on the latest market trends in Vietnam.*

1. Which industries/markets are booming at the moment in Vietnam?

Logistics businesses in Vietnam achieved positive results in 2010 and planned even bigger project this year. Vietnam is solving its transport problems with improvements in warehousing, delivery and distribution. Although Vietnam’s logistics market is only at an early stage of development, compared with other Asian countries and territories, this is a market with fast economic growth, especially in manufacturing and retail – the pivotal factors for the sector’s success.

2. What makes Vietnam currently so interesting for this industry?

Vietnam’s advantages stem from its trade liberalization in line with WTO regulations and free trade agreements that the country has reached with ASEAN and APEC. These factors will lead to a boom in Vietnam’s external trade activities and a surge in demand for logistical services.

3. Why should companies from these industries start doing Public Relations in your region?

According to the commitment to join WTO, in 2012, the 100% foreign capital companies will operate equally in Vietnam. This put the Vietnamese businesses before a sharp competition and challenge in their home field, because the foreign businesses are better than local ones in many aspects such as: capital, logistics infrastructure, market, management experience, professional skills, human resource, etc. In addition they have built the allies and associations between the companies and organizing well the global logistics net.

Therefore, Vietnamese companies need PR efforts to position themselves among bigger names, attract investments, and expand business. On the other hand, foreign companies need to familiarize themselves in this new market. A well planned and executed PR plan can help them to build allies, make their brands and point-of-view known on a national level.

* The series is based on phone or face-to-face interviews and written input, therefore please excuse language mistakes which might reflect foreign language influences.

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