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Business and Market Review on Vietnam

A lot of the Vietnamese population are now living in the rural areas though the proportion in the urban human population are gradually increasing from 19.7% in 1990 to 26.0% in 2004. Vietnam's largest city is Ho Chi Minh City (population 5.0 million) and Hanoi (population of three.5 million) accompanied by Nai, Haiphong and Dac Lac.
Household income in Ho Chi Minh City is practically 3 x the country's average - town makes up about nearly half of all motorbikes in Vietnam. An estimated 20% of the population live below the poverty level and mainly from rural households. 10%-15% of the households are middle to high-income households while 65%-70% are lower-income households.
INFRASTRUCTURE. Vietnam's telecommunication systems lag behind many neighbouring countries in your community and thus government puts great focus on its modernisation. Digital exchanges now attached to Hanoi, Da Nang, and Ho Chi Minh City and main lines have gone up whilst the using mobile telephones is growing. The nation's road system stretches through the northern to southern tip of Vietnam. Southern and northern Vietnam are served by two international airports and a couple main sea ports serving international shipping.

INTERNATIONAL TRADE. Vietnam's major trading partners are the US, Japan, China, Australia, Germany, Singapore, Taiwan, Thailand and The philipines. Major exports include oil, seafood, rice, coffee, cashew nuts, rubber, tea, garments and shoes. Major imports include machineries and equipments, petroleum products, fertilisers, steel products, cotton, grains, cement and motorcycles.
CONSUMER Using TECHNOLOGY. There have been nearly 10.A million telephones set up in Vietnam and nearly 5.0 million cellular phone subscribers in 2004. The us government is putting considerable efforts to modernise and increase the country's telecommunication system but nonetheless lags in comparison with Singapore, Thailand and Malaysia. Computer penetration is low; estimates consist of 2% to 4% of the population in 2004 plus an estimated 5.8 million online users. The penetration of television is only 20% and concentrated to homes within the towns and cities. Similarly, installing of refrigerators concentrates in the cities where 60% from the homes have refrigerators.
RETAIL MARKET. Retail sales in Vietnam grew by 8%-12% annually from 2000 to 2004 as a result of increasing disposable income due to country's strong economic growth. Vietnamese consumers spend two-thirds of their income on retail purchases amounting to US$16.3 billion in 2004. Traditional wet markets and the "mom and pop" shops dominate the retail industry comprising 95% of the total retail trade. Several stores measure a maximum of five square metres (54 sq . ft .). Modern stores are restricted but gradually emerging in the united kingdom and customarily locally owned businesses concentrated in Ho Chi Minh City and Hanoi.
FOOD CULTURE. Rice and noodles will be the staple food in the Vietnamese but taste preference differs by region. Foods in central Vietnam are spicier while foods in southern and northern Vietnam are less spicy and therefore are saltier. The Vietnamese often dip their foods with chilli, garlic or fish sauce to add flavour. France colonialists introduced European style bread and bakeries in the Vietnamese food culture. Western style junk food service establishments are beginning to emerge plus the traditional snack bars, cake shops and mobile food carts.
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