Vietnam Overview

Vietnam’s greatest economic resource is its literate and energetic population. Its long coastline provides excellent harbours, access to marine resources, and many attractive beaches and areas of scenic beauty that are well suited to the development of tourism. Since the late 1990s, the country’s economy has been on a vigorous upswing. Tourism has expanded, manufacturing and export earnings have increased, and the per capita gross domestic product (GDP) has grown rapidly. Early in the 21st century, state markets were opened to foreign competition, and Vietnam became a member of the World Trade Organization (WTO). This surge followed two decades of post-reunification economic instability, during which a slowly developing infrastructure, excessive population growth, environmental degradation, and a rising domestic demand (that was increasingly difficult to meet) impeded economic development.


Landscape and growth

Global State of the Market Report

In 2022, the Advisory Board Centre mapped professionals currently serving on Advisory Boards. This assessment identified over 1,500 professionals on Advisory Boards in Vietnam.

Advisory Board Landscape

The assessment has identified low numbers of Advisory Board professionals in Vietnam. Minimal participation in the market may indicate:

  • That Advisory Board structures engaged in the country are informal in nature;
  • Advisory Boards are referred as a different name, such as committees, councils or think tanks;
  • Traditional sourcing of advice is more customary for Vietnam’s current business environment; or
  • There is a language barrier stemming from the search for Advisory Board professionals being in English.

Future Growth Opportunities

As an emerging sector in Vietnam, connection and collaboration with the global Advisor community will present strong future growth opportunities. Further, focusing on key market sectors – textiles, tourism and telecommunications – as well as acknowledging start-up and emerging industries are essential. It will also be important for Advisory Board professionals in market to be credentialed to best practice and ethics as this sector grows over time.

Key Statistics

Population 99.64 million
GDP $366,138 USD million
Labour Force by occupation
GDP by sector
Import $341,154 USD million
Export $341,576 USD million
Global ease of doing business rank 68th
Global ease of doing business score 67.93100