Buoyant Market Opportunities for HVACR Industry
According to Vietnam Economic News, Vietnam’s construction industry is expected to expand in real terms over the forecast period (2017–2021), due to investments in transport infrastructure, energy and utilities and affordable housing. In addition, government investment in public infrastructure and educational healthcare buildings as part of the 2016–2020 Development Plan will further support this growth.
Strategically located in the heart of Southeast Asia and bordering China to the south, Vietnam is one of the region’s most dynamic economics. Vietnam is becoming an increasingly large importer of capital goods necessary to meet its large infrastructure needs, as well as consumer goods to satisfy its rapidly expanding consumer market.
As the 13th most populous country in the world with a population of over 90 million people, Vietnam represents a huge potential for many investors. It remains one of the most attractive locations for foreign investors in Southeast Asia due to its favourable demographics, growing middle class, political stability and its strategic location.