The average income per capita of Vietnam will reach 3.400$

Vietnamese workers

According to the Boston Consulting Group in the US, the middle class of Vietnam has the fastest development growth than any country in the Southeast Asia in the contents of producing export goods, creating jobs and improving the standard wages for workers.
Forming new purchasing power has led to the booming of the consumption in the city and the competition between foreign brands severer.
According to the Research Center for Consumer and Customer of the Boston Consulting Group, “the middle and reach class” in Vietnam are forecasted to be double to 33 millions people, 1/3 of the population of the country, for the period of 2014-2020.
People who have the average income of 714$ or higher per month are classified at this class.
In 1987, Vietnam started to open its market for foreign investment. Since 2012, Vietnam has improved its attraction by solving the labor disorder and the issues of currency, joining the Trans Pacific Partnership (TPP) and signing a trade agreement with the Europe. The international producers have chosen Vietnam because of low operating cost.
The FDI factories have contributed to build a diverse economy in Vietnam with logistics and finance companies, creating more jobs for the society. Vietnam regularly increased the minimum wage and workers often live with their families to save the cost of renting the house. Some employers complain that it’s difficult to find "white collar" worker in Vietnam, therefore they have to pay higher salary for qualified workers.
Different from other Asia developing countries, the Government’s investment in agriculture development has created a middle class in rural areas.
Ms Aparna Bharadwaj, Southeast Director of the Boston Consulting Group said: “This has created not only the middle class in big cities, but also in small towns and rural areas.
Vietnam has the fastest dispersion of the middle class that I’ve ever seen in ASEAN. The income of the people has risen widely not only a few rich people.” She said.
The Group informed that the average income of Vietnamese people will increase from 1.400$ in 2 years ago to 3.400$ in 2020. The growth of the middle class in Vietnam has attracted the foreign investors, creating intense competition in fast food, dairy products, automobile, hygiene products and consumer electronics. We can found a lot of international brands in Ho Chi Minh city, such as Burger King, Starbucks, Family Mart, Nestlé, Sony…
Dell, an American computer companies, has found that Vietnam is a “special” market because the Northern consumers prefer European brands while consumers in the South are in favor with the US and Japan’s ones.
Mr. Nguyen Cuong Thinh, Director of Business Development in Dell Vietnam, said that Dell focuses in after-sales services to build trust in their products.
Vietnam is now a destination of the international investment. It’s a dynamic country with a lot of good conditions to develop, bringing benefit for investors and building a prosperous Vietnam. The life of Vietnamese people are also being improved better than before with a high average income./.
Chia sẻ bài viết ^^
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All comments [ 10 ]

John Smith 11/9/16 21:58

Vietnam has big chances to become a hub of the Asia

Jane smartnic 11/9/16 22:01

Vietnamese people are having a lot of good conditions for living and working

Gentle Moon 11/9/16 22:04

According to World Bank, Vietnam able to reach US$18,000 annual income by 2035

LawrenceSamuels 11/9/16 22:08

Vietnam is one of five countries likely to be most affected by climate change

Deck Hero14 11/9/16 22:09

in the past two years, Vietnamese people's income increased by 15% and since Vietnam officially became an average income country in 2009, per capita income has constantly improved, doubling in six years.

yobro yobro 11/9/16 22:10

Vietnam has attracted investment from 103 countries and territories, with a total committed capital of over $257 billion

Love Peace 11/9/16 22:12

Nation’s export driven economy is expected to continue its upward trajectory

Only Solidar 11/9/16 22:16

Vietnamese people deserve to have good living conditions because of their hard-working and skillfulness.

Pack Cassiopian 11/9/16 22:18

Vietnamese always believe in the Party and Government's leadership, especially in the economic development.

MaskOf Zero 11/9/16 22:21

Vietnam will get richer and richer in the future.

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