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The average income per capita of Vietnam will reach 3.400$
The average income per capita of Vietnam will reach 3.400$
11/9/16
 |
| 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./.
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All comments [ 10 ]
Vietnam has big chances to become a hub of the Asia
Vietnamese people are having a lot of good conditions for living and working
According to World Bank, Vietnam able to reach US$18,000 annual income by 2035
Vietnam is one of five countries likely to be most affected by climate change
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.
Vietnam has attracted investment from 103 countries and territories, with a total committed capital of over $257 billion
Nation’s export driven economy is expected to continue its upward trajectory
Vietnamese people deserve to have good living conditions because of their hard-working and skillfulness.
Vietnamese always believe in the Party and Government's leadership, especially in the economic development.
Vietnam will get richer and richer in the future.
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