Investment in Vietnam is currently attracting the attention of many foreign investors. Before joining any business, you need to thoroughly understand the law, culture, and industries that are thriving in this country. The following article will be introduced in the Top 15 business activities for foreigners in Vietnam by 

Online gaming industry – Top 15 business activities for foreigners in Vietnam

The online gaming industry in Vietnam offers opportunities for both local and foreign businesses. With growing number of gamers and increasing internet penetration, the market presents several potential avenues for foreign entrepreneurs. The esports industry is gaining significant popularity in Vietnam. Foreign entrepreneurs can explore opportunities in organizing esports tournaments, managing professional esports teams, providing event management services, or creating esports-focused content platforms.

With the rising demand for gaming accessories and equipment, foreign businesses can import and distribute gaming peripherals, hardware, consoles, and other gaming-related products to the Vietnamese market. Foreign content creators can establish their presence in Vietnam’s gaming community by streaming gameplay, creating video content, or providing gaming tutorials and reviews in Vietnamese. This can be done through popular platforms like YouTube or local streaming platforms. Besides, Foreign publishers can partner with local game developers to publish and distribute games in Vietnam. This collaboration allows foreign companies to leverage the expertise of local developers in navigating the Vietnamese gaming market.

Healthcare industry – Top 15 business activities for foreigners in Vietnam

The healthcare industry in Vietnam presents significant opportunities for foreign businesses and investors. With a growing middle class, increasing healthcare expenditure, and a need for improved healthcare services, there are several areas within the healthcare industry where foreigners can explore opportunities. 

Investing in or partnering with hospitals and clinics is a viable option for foreigners. This can involve establishing new facilities or collaborating with existing healthcare providers to offer specialized services, such as international-standard hospitals or clinics focusing on specific medical specialties. Vietnam is emerging as a medical tourism destination, attracting patients from neighboring countries and beyond. Foreign businesses can tap into this market by offering healthcare packages, collaborating with hospitals and travel agencies, and providing services tailored to medical tourists, such as visa assistance and accommodation arrangements.

Textile and garment

The textile and garment industry in Vietnam is a major economic sector and provides significant opportunities for foreign businesses. Known for its skilled workforce, competitive production costs, and preferential trade agreements, Vietnam has become a prominent player in the global textile and garment market. Vietnam offers cost-effective production capabilities for a wide range of products, including clothing, footwear, accessories, and textiles for industrial applications.

Vietnam has advantageous trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), which provide preferential access to major international markets. Leveraging these agreements, foreign businesses can export Vietnamese-made textiles and garments to global customers.

With increasing consumer demand for sustainable and ethically produced products, incorporating environmentally friendly and socially responsible practices into textile and garment production can be a differentiating factor. This includes using eco-friendly materials, adopting sustainable manufacturing processes, and ensuring fair labor practices throughout the supply chain.

Foreign businesses can establish retail operations, such as opening branded stores or partnering with local retailers to sell their textile and garment products. Additionally, opportunities exist in the fashion sector, including launching local fashion brands or collaborating with Vietnamese designers to promote their products domestically and internationally.

E-commerce – Top 15 business activities for foreigners in Vietnam

E-commerce is a thriving business activity in Vietnam, offering opportunities for both local and foreign entrepreneurs. With a growing digital market and increasing consumer demand for online shopping, starting an e-commerce business in Vietnam can be rewarding

Information Technology (IT) Services

Information Technology (IT) services are a popular business activity for foreigners in Vietnam. The country has a growing tech industry and a skilled workforce, making it an attractive destination for IT-related ventures.

Creative Arts and Design

The creative arts and design sector in Vietnam is vibrant and offers opportunities for foreign businesses to participate in various artistic and design-related endeavors. With a rich cultural heritage, a growing appreciation for the arts, and a flourishing creative scene, Vietnam provides a fertile ground for creative arts and design businesses.

Real Estate Development

Real estate development in Vietnam offers lucrative opportunities for foreign businesses due to the country’s rapid urbanization, growing population, and increasing demand for residential, commercial, and industrial properties. Capitalize on Vietnam’s growing manufacturing and logistics sector by developing industrial parks, warehouses, logistics centers, or specialized industrial properties. Vietnam’s strategic location and favorable investment climate make it an attractive destination for industrial and logistics operations.

Invest in the development of hotels, resorts, or hospitality complexes to cater to the increasing number of domestic and international tourists visiting Vietnam. This includes beachfront resorts, city hotels, eco-lodges, or luxury hospitality properties.

Financial Services – Top 15 business activities for foreigners in Vietnam

The financial services sector in Vietnam offers numerous opportunities for foreign businesses looking to provide a range of financial products and services. With a growing economy, increasing consumer spending power, and a supportive regulatory environment, Vietnam presents a favorable market for financial services.

Banking Services: Establish a bank or offer banking services such as deposits, loans, mortgages, credit cards, and other financial products to individuals, businesses, and institutional clients. This includes retail banking, corporate banking, trade finance, and treasury services.

Insurance Services: Provide insurance products and services, including life insurance, health insurance, property insurance, motor vehicle insurance, and other specialized insurance products. Explore opportunities in both individual and corporate insurance coverage.

Investment Banking: Offer investment banking services such as capital raising, underwriting, mergers and acquisitions, corporate finance, and advisory services for businesses and financial institutions. This can involve supporting initial public offerings (IPOs), debt issuances, private placements, and corporate restructuring.

Professional Services – Top 15 business activities for foreigners in Vietnam

The professional services sector in Vietnam presents opportunities for foreign businesses to offer specialized services and expertise across various industries. As the country’s economy continues to grow and develop, there is a demand for professional services to support business operations, legal compliance, financial management, and more.

Legal Services: Provide legal advice, assistance, and representation to businesses operating in Vietnam. This includes corporate law, contract law, intellectual property rights, labor law, dispute resolution, and regulatory compliance.

Accounting and Auditing: Offer accounting, bookkeeping, auditing, and financial reporting services to businesses. Assist with tax compliance, financial analysis, budgeting, and strategic financial planning.

Tax Consulting and Advisory: Provide tax consulting and advisory services to help businesses navigate Vietnam’s tax regulations, optimize tax planning, and ensure compliance. This includes corporate tax, VAT, personal income tax, transfer pricing, and customs duties.

Management Consulting: Offer management consulting services to help businesses improve their operations, efficiency, and strategic planning. This can include market research, feasibility studies, organizational development, process improvement, and change management.

Agricultural and Farming

The agricultural and farming sector in Vietnam holds significant potential for foreign businesses. With a favorable climate, fertile land, and a rich agricultural heritage, Vietnam is known for its agricultural products such as rice, coffee, seafood, fruits, and vegetables.

Crop Cultivation: Invest in agricultural land or partner with local farmers to cultivate crops such as rice, coffee, tea, fruits, vegetables, cashew nuts, or rubber. Vietnam has favorable conditions for various types of crops, and there is a growing demand for high-quality produce both domestically and for export.

Aquaculture and Seafood: Vietnam is one of the leading exporters of seafood globally. Engage in aquaculture activities such as fish farming, shrimp cultivation, or oyster farming. This sector offers opportunities to supply both domestic and international markets with fresh or processed seafood products.

Livestock Farming: Explore livestock farming opportunities, including poultry farming, pig farming, cattle farming, or dairy production. Vietnam has a large consumer base with a growing demand for meat, eggs, and dairy products.

Organic Farming: The demand for organic produce is increasing in Vietnam. Consider organic farming practices and certification to cater to health-conscious consumers and to tap into the premium market segment.

Hospitality and Tourism

The hospitality and tourism industry in Vietnam is a thriving sector that attracts a significant number of domestic and international travelers. With its rich cultural heritage, beautiful landscapes, and diverse attractions, Vietnam offers numerous opportunities for foreign businesses in the hospitality and tourism sector.

Accommodation: Invest in hotels, resorts, or serviced apartments to cater to the growing demand for accommodations. This can range from luxury properties targeting high-end tourists to budget-friendly options for backpackers and budget-conscious travelers.

Food and Beverage Services: Establish restaurants, cafes, or bars within hotels or as standalone establishments. Vietnam’s cuisine is renowned worldwide, and there is a strong demand for both traditional Vietnamese dishes and international flavors.

Travel Agencies and Tour Operators: Set up a travel agency or tour operator business to offer comprehensive travel services, including itinerary planning, transportation, accommodation, and tour packages. Vietnam’s diverse landscapes and cultural heritage provide ample opportunities for various types of tours, such as adventure tourism, cultural tours, and eco-tourism.

Adventure and Eco-Tourism: Take advantage of Vietnam’s natural beauty and offer adventure activities such as trekking, hiking, cycling, kayaking, or wildlife tours. Eco-tourism initiatives that promote sustainability and responsible travel are also gaining popularity.

Education and Training – Top 15 business activities for foreigners in Vietnam

The education and training sector in Vietnam presents opportunities for foreign businesses interested in contributing to the country’s growing education landscape. Vietnam has a large and young population with a strong emphasis on education, making it an attractive market for various educational services and training programs.

English Language Teaching: English language proficiency is highly valued in Vietnam. Foreign businesses can provide English language courses, tutoring services, or English language teacher training programs. This can cater to students of all ages, including children, teenagers, and adults.

International Schools and Education Programs: Establishing international schools or offering international education programs in partnership with local educational institutions is a viable option. This can include curriculum development, teacher training, and providing a high-quality international education experience.

Higher Education Partnerships: Collaborate with Vietnamese universities and colleges to offer joint programs, student exchanges, or research collaborations. This can involve offering specialized degrees, conducting faculty development programs, or establishing study abroad programs.

Vocational Training and Skill Development: There is a demand for vocational training and skill development programs in Vietnam. Foreign businesses can offer training courses and certification programs in areas such as technology, hospitality, healthcare, construction, and other industry-specific skills.

Import-Export – Top 15 business activities for foreigners in Vietnam

Engaging in import-export activities is a common business endeavor for foreigners in Vietnam. The country’s strategic location, expanding economy, and participation in international trade agreements make it an attractive destination for import and export activities

Supply Chain Management: Establish a reliable supply chain network to ensure the smooth flow of goods. This includes sourcing suppliers or manufacturers, negotiating contracts, managing logistics and transportation, and overseeing customs clearance and documentation.

Import Procedures: Familiarize yourself with Vietnam’s import regulations and procedures. Obtain the necessary import licenses, permits, and certifications required for specific products. Comply with customs regulations, tariffs, and import duties, and ensure proper product labeling and packaging.

Export Procedures: Understand the export procedures and documentation required for exporting goods from Vietnam. Familiarize yourself with export licensing, customs requirements, and compliance with international trade regulations.

Trade Partnerships: Establish relationships with local suppliers, manufacturers, distributors, or agents to facilitate import or export activities. Collaborating with local partners can provide valuable market insights, help navigate regulatory processes, and assist with distribution networks.

Food and Beverage Industry

The food and beverage industry in Vietnam offers numerous opportunities for both local and foreign businesses. With a large population, changing consumer preferences, and a vibrant culinary culture, the sector is dynamic and diverse.

Restaurant and Café Business: Opening a restaurant, café, or food establishment is a common entry point. Vietnam has a thriving food culture, and there is a demand for diverse dining experiences, ranging from traditional Vietnamese cuisine to international flavors. Consider offering unique concepts, quality ingredients, and exceptional customer service to stand out in the competitive market.

Food and Beverage Distribution: Distributing food and beverage products to retailers, restaurants, and hotels is an opportunity for foreign businesses. This involves importing and distributing both international and local products to cater to the diverse preferences of Vietnamese consumers.

Food Processing and Manufacturing: Investing in food processing and manufacturing facilities allows foreign businesses to produce and package food and beverage products locally. This can include manufacturing popular items such as sauces, snacks, beverages, or specialty foods.

Organic and Healthy Products: The demand for organic and healthy food and beverages is increasing in Vietnam. Foreign businesses can explore opportunities in sourcing, producing, and distributing organic and natural products that meet the growing consumer demand for healthier options.

Environmental Services

Environmental services in Vietnam encompass a wide range of activities aimed at protecting and preserving the environment, promoting sustainable practices, and addressing environmental challenges. As the country continues to experience rapid industrialization and urbanization, the demand for environmental services is increasing. Foreign businesses can contribute to Vietnam’s environmental sustainability efforts in various ways.

Environmental Consulting: Provide environmental consultancy services to businesses and government agencies. This can include environmental impact assessments, environmental management plans, pollution control strategies, and compliance with environmental regulations.

Waste Management and Recycling: Develop and implement waste management solutions, including waste collection, recycling programs, waste treatment facilities, and landfill management. Explore opportunities in recycling technologies, waste-to-energy projects, and circular economy initiatives.

Water and Wastewater Treatment: Offer expertise in water treatment and wastewater management. This can involve designing and constructing water treatment plants, wastewater treatment facilities, and water reuse systems. Provide solutions for water quality monitoring, water resource management, and water conservation.

Air Quality Monitoring and Pollution Control: Assist in monitoring and assessing air quality, providing solutions for pollution control, emission reduction, and indoor air quality management. This can include air pollution monitoring systems, emission control technologies, and environmental audits.

Above is a summary of the Top 15 business activities for foreigners in Vietnam that investors can consider when investing in Vietnam. You can also contact the lawyers at gatve2v for support and advice on business activities in Vietnam.