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Economic relations

1. Supporting Vietnamese companies

Overview of Portugal
Currency:EUR
Fiscal Year: Annually
Economic organizations: EU, WTO, OCDE
Central Bank: Bank of Portugal
GDP: USD229.3 trillion
Growth rate: 1.4%
GDP per capita: 23,000
-GDP by Sector: Agriculture:  4%
Industry: 22.9%
Trade and services: 74.7%
Inflation: 1.4%
Percentage of population below the average income: 18%
Labor force: 5.583 million people
Structure by sector: Agriculture: 10%
Industry: 30%
Trade and Services: 60%
Unemployment rate: 12.1%
Main industries: Textiles, Clothing, Footwear, Bottle, Paper, Chemical Products, Car Parts, Metals, Alcohol and Agricultural Products, Glass, technological and communication products, tourism, etc…
Exports: USD43.71 trillion
Export products: agricultural products, food, oil products, chemical products, plastics, rubber, cork, paper, minerals, metals, machinery, auto spare parts…
Main partners: Spain: 26.25%
Germany: 12.99%
France: 12.04%
Angola: 7.21%
UK: 5.54%
Imports: USD67.64 trillion
Imported products: agricultural products, foodstuffs, oil products, industrial products, gems, coffee, rubber, plastic, glass, fashion, footwear…
Main partners: Spain: 31.58%
Germany: 12.41%
France: 8.58%
Italy: 5.55%
Low-income countries: 5.31%

BDN-VN1
Vietnamese – Portugal signed bilateral economic cooperation documents (May 2017)

2. Investment opportunities in the Portuguese market
Portugal is a beautiful country in Western Europe, in a prime location, very convenient and ideal for investors to look for European market or expand their businesses all over the wall.

Portugal has the best and most advanced infrastructure and communication in the world, facilitating the Enterprises in developing their business, communicating and promoting their image not only in Portugal in particular but also in Europe in general. The success of a project is also determined by the human resources factor. In Portugal, the Enterprises can get skilled and talented workforce. In addition, Portugal is known for being a creative country with a friendly and diverse economic environment.

In addition, the Portuguese government has created many conditions for the Enterprises to develop, invest in and develop the business.

The Enterprises desiring to learn about investment opportunities in Portugal can refer to: http://www.portugalglobal.pt/EN/Pages/Home.aspx

2.1 Supporting Portuguese companies

Overview of Vietnam

Vietnam is one of the best performing economies in the world for the past decade. From 1995 to 2005, GDP grew by 7.3% per annum and average per capita income increased by 6.2% per annum. Vietnam economy has demonstrated its ability to cope with global economic market’s shocks as well as the negative impacts of SARS pandemic, avian flu, weather changes, high prices of goods, inflation, anti-dumping. Average income per capita in Vietnam, in US dollar, increased from USD 260/person/year (1995) to USD 835/ person/year (2007). In 2010, Vietnam surpassed the average income of USD 1,000/person/year.

Vietnam has opened and integrated into the world economy and has become a member of the WTO. Exports have brought major benefits to Vietnam, attracted large amounts of foreign investment in recent years. The growth of the Vietnam economy is also significantly contributed by private sector activities. The economic transition is accompanied by a reform of organizational apparatus. In line with the implementation of the 2004 State Budget Law, the Vietnam economy has made significant progresses in public finance management. The socio-economic development plan in the period of 2006-2010 was approved by the National Assembly in June 2006. The economic development plan aiming to rapidly develop four pillars of the economy is as follows: society, environment, organizational restructuring and apparatus management improvement.

2.2 Investment opportunities in Vietnam market

The real estate market has been still in the early stages of development, promising to provide many opportunities for investors. The government has had regulations on real estate investment law and gave benefits to overseas Vietnamese citizens.

Since these laws were enacted in 2006, real estate investment contracts have increased, showing a positive outlook in the future. Foreign investment in Vietnam real estate market in 2010 was USD 9 billion in 2010.

Vietnam’s GDP growth has grown rapidly, surpassed many of its Asian neighbors. For the past five years, the average GDP growth rate has increased by 7.4%, ranking second only after China. Rapid increase in GDP will help expand the real estate market as well as attract foreign investment capital and increase purchasing power for Vietnam.

Vietnam has been recently a member of the World Trade Organization (WTO), raising the position of Vietnam and expected to continue the growth in the long term.

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