Edge International

Vietnam's major exports are crude petroleum, telecommunications equipment,  rice, rubber, footwear, coffee, jewellery articles, fish and furniture.

The US remains Vietnam’s largest export market (nearly 20 per cent), followed by China (17  per cent), and Japan (8 per cent). Goods and services exports now make up over 80  per cent of Vietnam's GDP, up from a 30 per cent share recorded in the mid-1990s. 

Vietnam's major imports are refined petroleum products, telecommunications equipment, electronic  circuits, iron and steel, gold,  chemicals, plastics and textiles and garment inputs (Source: Global Trade Atlas).

China was the biggest exporter of products to Vietnam in 2019 accounting for 28 per cent of all imports into the country.

The Vietnamese Government is gradually loosening foreign investment limits by lifting the foreign ownership limit in listed companies to 49 per cent, and in unlisted companies to 40 per cent.

The legal system is undergoing major change to better align commercial statutes with international norms. The implementation of WTO commitments is gradually contributing to a better operating environment over the medium and longer-term as tariffs are cut, investment restrictions loosened still further, and a more transparent and predictable commercial legal and administrative system comes into place.