Despite COVID-19 pandemic, Vietnam’s economy remains resilient, achieving one of the highest growth rates in the world. Vietnam is believed to follow the right path to become the next “Asian miracle”.
What’s more, with a large population of 98.4 million in 2021, the expected disposable income per capita to be at 6,848 USD in 2024f and the increase in the proportion of middle class – the key driver of high value spendings (from 24% now to expected 34% in 2024f), it’s no doubt that Vietnam is becoming a favorite destination for multinational corporations as well as SMEs all over the world. (1)
By far, South Korea is the largest foreign direct investor (FDI) in Vietnam with over US$65 billion in more than 7,000 projects, which revealed the interest of South Korean companies towards Vietnam. Many clients of VICGO come from South Korea and so do our latest clients, Dbio and Propolis. After an extensive conversation and long term relationship, VICGO and KAIST GCC founded by MunKee CHOI, Ph.D – Former Minister of Science, ICT and Future Planning (MSIP) will serve as an advisory to Seoul Propolis and Dbio to market expansion in Vietnam since we believe that with the understanding and insights of South Korean enterprises, KAIST GCC will be of great support to ensure the suitability of our strategies with South Korean companies.
About our clients:
About Seoul Propolis
If you’re interested in the products of Seoul Propolis, please visit the website of Seoul Propolis http://www.probee.kr/en/sub/sub01_03.php or contact us via vicgo.co if you want to become local partners of Seoul Propolis in Vietnam.
About Dbio
If you’re interested in the products of Dbio, please visit the website of Dbio http://www.dbio.co.kr/eng/sub1_1.html or contact us via vicgo.co if you want to become local partners of Dbio in Vietnam.
REFERENCES
(1) BSC 2021, ‘Triển vọng ngành tiêu dùng bán lẻ 2021, BSC report viewed 5 November 2021, <https://www.bsc.com.vn/Report/ReportFile/2664548>.
