Vietnam considered as a land of opportunity for both local and foreign investors. An institutional investor knows exactly which is the best strategy, but to individual investor, which is the best business to start in Vietnam?
As a professional investment consultant in Vietnam, Global Business Services Company (GBS | Vietnam) shares with Vietnam Insider the most preferred industries by foreign invested SME companies, which used the services of GBS to set-up their business in Vietnam. Details as below:
1. Restaurant and Bar
Both locals and expats in Vietnam love good meals and drinks. If you like to spend money on the entertainment industry, starting a restaurant and bar is a very lucrative niche in this industry. You might consider establishing a night golf club where people can relax and unwind after a difficult day’s job.
2. Garment and Textile Items
Garment and Textile producing is another lucrative business in Vietnam because Garments and Textiles are among items that Vietnam exports. You may also focus on making ready-to-wear clothing or start your personal clothing line. However, if you think that it would be too costly to begin your own textile and garment Production Company, you may become a cloth merchant or start an on-line clothing shop. All these businesses are profitable equally.
3. Home furniture Making and Remodeling
Home furniture making is a great business because nearly every office or home you step into offers one furniture piece or the additional. Asides that, a whole lot of businesses and businessmen far away source for home furniture from Vietnam that they take to their countries for resale.
4. Exportation
Vietnam exports a whole lot of items like rice which really is a world staple, coffee, Crude oil, shoes, rubber, seafood; electronics; there are simply so many points that you could sell to purchasers from various other countries. To get worldwide buyers, just visit a website like Find quality Manufacturers, Suppliers, Exporters, Importers, Buyers, Wholesalers, Products and Trade Leads from our award-winning International Trade Site.
Hochiminh City, Vietnam – August 2, 2015: Maritime transport on river, container loading vessel on water, residential and apartment at riverside, scene of industrial city, Vietnam, August 2, 2015
5. Detergents and Cosmetics
Detergents are utilized by almost everyone for washing and house cleaning. There are therefore many brands of detergents in Vietnam, but that doesn’t imply that you cannot develop something unique and various. There would continually be a demand for a thing that is unique, different from the standard and solves a problem.
6. Used Car Dealer
Everyone in Vietnam loves a nice, clean, brand new vehicle but sadly, not everyone can afford it. This is why a lot of people resort to buying used vehicles. Used car dealers make a lot of money just from helping people sell their used vehicles or importing used cars from other countries for sale.
7. Real Estate brokerage
Another rewarding business you can begin in Vietnam is definitely building or buying properties for resale. With the amount of expatriates and immigrants getting into Vietnam, real estate can be a business you won’t regret. You can set-up a company to purchase aged properties to renovate and resell; you can build workplace blocks for lease or small housing models for rent as well.
8. Marketing Consultant
As the country’s economy continues to improve, more foreigners are coming in and more locals are beginning to look to starting a business. Most of these entrepreneurs or corporations usually require an independent consultant to help provide marketing services for them. For you to be a successful marketing consultant, you should have knowledge about industry trends, markets, demographic and sales results.
9. Pet Shop and Supply
Pet care in Vietnam has been growing due to the gradual increase in the pet population, busier lifestyles and rise in the humanization of pets. Cat and fish are the most preferred pets in Vietnam especially in the big cities, and due to health and wellness trends, more pet owners are willing to spend more on packaged pet food. Most pet owners prefer international brands to local brands and so you should take this into consideration when looking to start your pet shop business.
10.Translation and Transcription Services
As more foreigners continue to move into Vietnam to explore business opportunities, starting a translation and transcription service can be a savvy move for an enterprising entrepreneur. You will need to determine the kind of services you intend to offer your various clients and in order to create awareness, you will need to advertise and engage in publicity strategies.
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GBS | Vietnam
Email: info@gbs.com.vn | Hotline: +84903189033
Website: https://gbs.com.vn