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Get to Know About Vietnam
Vietnam, which shares borders with China, is a country situated in Southeast Asia. Its economy has grown well in recent years on the strength of its sectors like manufacturing and information technology.
Agriculture is a fast-growing industry in Vietnam, and it is one of the biggest producers of cashew nut and black pepper. Its other agricultural products include rice which it exports on a large scale along with rubber, coffee, and tea. Among natural resources, Vietnam produces and exports oil in large quantities to countries like the United States.
One significant advantage for investors for doing business in Vietnam is its location with access to the big markets of Asian countries like China. Another plus point is the ease of setting up a business here. The policies and regulations of the Vietnam government are very much in favor of foreign direct investment, and it offers many incentives to investors here. There is also the benefit of the availability of a mostly young and skilled workforce.
One of the challenges encountered by investors here is the poorly developed infrastructure. There is also increased corruption in the public sector, along with its slow functioning. Another drawback is the language problem, as many of its inhabitants are not familiar with English.