Vietnam has been cited as having the fastest-growing middle class in the Southeast Asian region in the Boston Consulting Group (BCG)'s latest survey, says Radio the Voice of Vietnam (VOV).
The BCG survey has also shown that Vietnamese customers are the most optimistic in the world with more than 90% believing their living conditions are higher than their parents and that the quality of life will continue to rise.
Additionally, despite short term global economic problems, 70% of respondents said Vietnam’s economy is improving and they intend to increase their purchases in the future.
Vietnam has become an attractive destination for foreign investors in recent years. Samsung was licensed to build a 1.2 billion USD factory while Nestle recently inaugurated its 240 million USD processing factory to serve Southeast Asia market.
Retail giants, like McDonald’s, KFC, Starbucks, Pizza Hut or Burger King also penetrated the Vietnamese market.
Companies investing in Vietnam have opportunities to brand their trademarks and get on a pathway to economic growth. However, they can only gain success if they master an understanding of customers and their demands, cautioned Douglas Jackson, BCG Vietnam managing director.-VNA
The BCG survey has also shown that Vietnamese customers are the most optimistic in the world with more than 90% believing their living conditions are higher than their parents and that the quality of life will continue to rise.
Additionally, despite short term global economic problems, 70% of respondents said Vietnam’s economy is improving and they intend to increase their purchases in the future.
Vietnam has become an attractive destination for foreign investors in recent years. Samsung was licensed to build a 1.2 billion USD factory while Nestle recently inaugurated its 240 million USD processing factory to serve Southeast Asia market.
Retail giants, like McDonald’s, KFC, Starbucks, Pizza Hut or Burger King also penetrated the Vietnamese market.
Companies investing in Vietnam have opportunities to brand their trademarks and get on a pathway to economic growth. However, they can only gain success if they master an understanding of customers and their demands, cautioned Douglas Jackson, BCG Vietnam managing director.-VNA
