Why does Globevisa enter the Vietnam market
Globevisa has officially launched its Vietnam Ho Chi Minh City office in February 2023. It is a popular saying that Vietnam is China in its ten years back, so is the immigration trend also growing in Vietnam?
In terms of the economy, according to data from the Vietnamese General Statistics Office, Vietnam’s GDP exceeded 400 billion US dollars for the first time in 2022, reaching 409 billion US dollars, with a per capita GDP of 4,110 US dollars, and an annual economic growth rate of 8.02%, the highest in 12 years. According to the World Bank’s Global Economic Prospects, economists predict that Vietnam’s GDP growth in 2023 will be the highest in Southeast Asia at 6.3%.
In terms of immigration data, according to statistics released by the Australian Department of Home Affairs, Vietnam ranks second among the source countries of business immigrants, behind only China. (source: Australian Government, Department of Home Affairs, visa statistics). Among EB-5 investment immigrant applicants in the United States, Vietnam ranks third, following China and India. (source: Department of State’s report of the visa office). In Canada, among applicants for the Start-up Visa program aimed at attracting innovative entrepreneurs, Vietnam even surpasses the number of applicants from China and India (source: CIC, visa statistics).
Therefore, whether looking at Vietnam’s overall economic data or from the perspective of business immigration practitioners, Vietnam has great potential. CEO and co-founder Henry Fan and Group Head of Global Business Development Hannah Ma have both visited the Vietnam multiple times and established a team with rich local market experience and immigration industry experience.