Most profitable small business ideas in Vietnam

Planning to start a small business in Vietnam? Look no further as this article is all about it. Here we will go through few fabulous trade ideas preferable for Vietnam. But first you need to know little bit about business opportunities in Vietnam.

Vietnam is a south Asian country sandwiched between Gulf of Thailand and South China Sea. Thailand lies at the north and Malaysia at the south of this country. The country has ancient history, diverse culture and pristine landscapes with vast opportunities.

Here are few small business ideas that can flourish in Vietnam.

Production and Manufacturing

Manufacturing business has good opportunities in Vietnam. Commerce and foreign investment department welcomes such business. Cosmetics and detergents manufacturing business are already doing great here.

Real Estate

Vietnam government is investing on country's infrastructure developments. Builders and real estate developers have good demands in here. Property demands have stuck at 21% in 2017. Countries like China, Hong Kong are already investing in this field.

Garments and textile

From weaving to exporting, Garments and Textile sectors gets big revenue here. If you plan to set a small business involving garments and textile, you have a good chance of success. If setting a garments factory gets too costly, you can always choose to be a retailer instead.

Tourism

The tourism and business has fabulous opportunities in Vietnam. Mesmerizing landscapes, pristine sea beaches are perfect for tourist culture. Hanoi, capital of Vietnam is one of the best tourist destinations. Vietnam encountered 20% increase of foreign tourists in recent years. Diverse culture, rich history and gifted landscape made this business overwhelming here.

Furniture production and export

Furniture making is already a booming business in Vietnam. This country exports wooden furniture to various foreign destinations. China is one of the major importers of Vietnam's renowned rosewood furniture. Furniture made out of Hardwood is popular in domestic market. So wooden products manufacture and furniture production has optimistic future in Vietnam.

Food and agricultural product processing

Farming and agriculture is still the staple profession in this country. So by default agro-product processing industries are of great demand. You don’t need whole lot of capital to enter into this business. All you need is determination, dedication and marginal capital.

Electronic and auto parts manufacturing

Another business sector with opportunity is electronic and auto part manufacturing. Electronic assemble and auto part trading has a big appreciation in Vietnam. Several Asian countries built their electronics assemble factory in this region. If you have a good knowledge in this business, then you might have an opportunity in Vietnam.

FAQ

Q. Is there any opportunity on tourism business in Vietnam?

A. Yes, tourism business is blooming in Vietnam. Vietnam attracted 20% more foreign tourists in recent years. SO, there are opportunities in this sector.

Q. which countries will be my competitors if I try for any typical business?

A. Investors from China, South Korea and Japan are your competitors in typical business.