Encouraged and supported by the government and local authorities, the startup movement in Hanoi has not developed well despite numerous business ideas.

Reports have found that the amount of money Vietnamese travelers spend on shopping overseas is higher than the fees of their tour packages.

Pay-TV companies are now cooperating with each other, rather than slashing fees in an effort to find more subscribers.

In the past, nearly all wealthy Vietnamese were real estate developers, but now two industry billionaires have appeared on Forbes’ list of billionaires.

In the last 30 years, Vietnam has attracted massive amounts of FDI but has missed opportunities to develop supporting industries.

Domestic brands are expected to have opportunities to prosper in the local market amid the massive arrivals of foreign brands.

Amid a massive invasion of foreign goods in the domestic market, experts remain  optimistic about the strong rise of some Vietnamese brands.

With nearly 3,000 startups, Vietnam is entering a startup boom similar to Europe’s in the 2010-2011 period, according to Max Scheichenost, the co-founder of 15 startups. 

Repeated warnings have been given in the last two years about the growing tendency of Vietnamese registering businesses in other countries such as Singapore and Thailand, though their production and sale activities are mostly carried out in Vietnam.

Three giant e-commerce corporations, Alibaba, Tencent and JD.com of China, have arrived in Vietnam.