The Rise and Fall of Vietnam Economy in 2024 (What Happened?)

Ойын-сауық

The Rise and Fall of Vietnam Economy in 2024 that you need to know. It’s no secret that Vietnam faced challenging times in 2023, marked by numerous scandals and arrests that led to a significant decline in the country's economy and GDP. But just how severe is the situation and how is the economy impacted for 2024? Join Lawyer Ken Duong in this episode as he delves into the details of what's truly happening in Vietnam for this year. Will Foreign Direct Investment take a hit? Is it time to reconsider investing in Vietnam, or is change on the horizon? Let's get started!
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00:00 So close to recovery but low Vietnam GDP
01:20 Now it's 80%!
01:45 Vietnam Economy: 2023 Rewind!
02:55 Sectors making the HEADLINES in 2023
03:37 It was a dip of 16.8%
03:57 Vietnam visa in 2023
04:32 Partnership Agreements
06:25 THE WORST YEAR For Real Estate in Vietnam
07:01 Vietnam's economy in 2024
08:02 6.3% vs 6.5%
10:45 New Laws in Vietnam
11:35 Lawyer Ken Duong's opinion
12:44 The Verdict!
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Пікірлер: 129

  • @jameswilliams365
    @jameswilliams3652 ай бұрын

    I live part time in the Calmette Quarter in District 1. I count on your videos really assist me in making living in Saigon quite easy. I plan on retiring in Vietnam. I'm 68 and have been establishing my home in Saigon for the last 10 years. Thank you for your continuing advice on daily life in Vietnam. I find this service very useful.

  • @donkeykong516

    @donkeykong516

    2 ай бұрын

    Without retirement visa, you’re very vulnerable

  • @w3s77

    @w3s77

    2 ай бұрын

    Bro, you have no chance to live in Vietnam long term without getting married.

  • @Birdylockso

    @Birdylockso

    2 ай бұрын

    Vietnam will offer a retirement visa eventually. They will come around and join the bandwagon, just in time for you.

  • @jondoh599

    @jondoh599

    Ай бұрын

    Retirement visas is not beneficial to a country's development and will be a burden on its healthcare sector and other things.

  • @Birdylockso

    @Birdylockso

    Ай бұрын

    @@jondoh599 Many countries are not immune to using quick fixes to solve their problems, unfortunately.

  • @cuongtrinh5840
    @cuongtrinh58402 ай бұрын

    Thank you very much for full information of present Vietnam business. Alway looks for your inside guide.❤

  • @thanhpham-gt3rk
    @thanhpham-gt3rk2 ай бұрын

    Thank you KD, pls keep it up.

  • @MorrisFilmPhoto
    @MorrisFilmPhoto2 ай бұрын

    Great ⭐️Thanks

  • @user-cn5ri5he4c
    @user-cn5ri5he4c2 ай бұрын

    Thank you for mentioning the retirement visa. Please keep us informed! Thank you for your program. If you can somehow get the long term retirement visa through, set up a visa processing office as well as real estate and other legal offerings, it would become even more interesting for you obviously--esp. if Vietnam will allow foreigners to own freehold. You are speaking of business development (BD). Since I worked in the field I am familiar with BD. What would be helpful for me is to have your opinion on--based on research--1) how the individual will best be able to invest in Vietnam and 2) when is the best time for the individual who is of non Vietnamese ancestry to begin investing to maximize that investment? I've traveled the world during the past few years and, Vietnam, seems to have the most potential of any country I see. I like your video. I just can't do Facebook. We have to find an alternative.

  • @Viking380
    @Viking3802 ай бұрын

    Ken, I enjoy and learn so much from your videos, I’m planning to soon be spending 1/2 of my years in VN, I visited for 3 months last time and very much enjoyed the food, the people and the sights. My wife is Vietnamese and we have thought about buying in VN but would probably rent for a year or two and allow ourselves time enough to make an informed decision. Also the retirement visa certainly sounds like a winner to me.

  • @lordstubbington7274
    @lordstubbington72742 ай бұрын

    Ken U r the man!!!!!

  • @Rod-bp8ow
    @Rod-bp8ow2 ай бұрын

    Vietnamese economy experienced tough times, yet it can easily manage its economy, as presence domestically and OVERSEAS, its GDP preservation-natural resources are IMPORTANT, since TOURISM is TOUTED at Vietnam. Cool.

  • @joefu32
    @joefu322 ай бұрын

    Thanks for sharing Ken and good to see you today inside the VCP elevator 😅

  • @jamesdond1
    @jamesdond12 ай бұрын

    You do a good job. Keep it up. I would love to talk to you about my efforts here in Vietnam to increase the living standards of the people here...

  • @kathleenlynch1961

    @kathleenlynch1961

    Ай бұрын

    If you can teach English online I think you could help numerous students improve their speaking and listening skills.

  • @hyperpedro2868
    @hyperpedro28682 ай бұрын

    Vietnam still has a very good economic growth despite real estate crisis. Factories moving there are helping a lot. So I am still bullish on Vietnam.

  • @tuongchu2867

    @tuongchu2867

    8 күн бұрын

    It’s changing now… companies and investors are leaving and hesitated to invest because of recent VN’s visit to Russia. Google BlackRock.

  • @timnic3850
    @timnic38502 ай бұрын

    I love Vietnam and the people. Friendly, helpful and forgiving. I'm studying Vietnamese as I would like to retire there.

  • @drgta6
    @drgta62 ай бұрын

    I love the exchange rate...the dollar is strong there.

  • @tonynguyen3006
    @tonynguyen30062 ай бұрын

    Hi doung. I really enjoy your video. Hope 1 day when I decide to invest in Vietnam. I will contact you. If not than have a drink

  • @qn5947
    @qn59472 ай бұрын

    VN seems to do everything right to attract foreign businesses. They still get an “F” grade for infrastructure improvements. The highways are awful and traffic gridlocks and potholes are pitiful. They are about 30 years behind Thailand in infrastructure and transportation improvements.

  • @ricklulu3572

    @ricklulu3572

    2 ай бұрын

    I bet you VN economy will beat Thailand in than 20 years

  • @michaelsaragoza6556
    @michaelsaragoza65562 ай бұрын

    Do you have an office in Southern California

  • @jameswilliams365
    @jameswilliams3652 ай бұрын

    Thanks!

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    We really appreciate your support. It motivates us to do more.

  • @chulietkkk2778
    @chulietkkk2778Ай бұрын

    bruh this man essay's level is on fire hope watching u will give me a band 6 eco!!!

  • @2-worlds-on-earth
    @2-worlds-on-earth2 ай бұрын

    Infrastructure development in Vietnam lacks behind many developing Asean countries such as Malaysia, Thailand and Philippines. The only strong plus point about Vietnam is the youth education is 2nd to Singapore in Asean in Pisa score, this said a lot about Vietnam’s future if corruption and frauds are under control.

  • @xdgs567z
    @xdgs567z2 ай бұрын

    Vietnam has bright future ahead

  • @danielhartwig6333
    @danielhartwig63332 ай бұрын

    Up early your time 🕺🏼🇦🇺😊🥁👍👍👍👍👍

  • @jasonreviews
    @jasonreviews2 ай бұрын

    if you look at the vinfast stock chart. It shows

  • @abcdefkkk123aa

    @abcdefkkk123aa

    2 ай бұрын

    Nó ở mỹ. Nasdaq không liên quan gì việt nam

  • @joseimmanuelcahilig3304
    @joseimmanuelcahilig33042 ай бұрын

    because. of very open economy Vietnam economy is very vulnerable

  • @vanto4362
    @vanto43622 ай бұрын

    Ken, love the channel! But man, if that's what 10 years does to my skin in Vietnam, I'd move back to the States. I travel to Vietnam often, at least every year, but the sun is killer.

  • @ricklulu3572

    @ricklulu3572

    2 ай бұрын

    Man 1 month in VN and I look 10 years older

  • @Pasebe

    @Pasebe

    Ай бұрын

    probably alcohol

  • @TicTic.

    @TicTic.

    Ай бұрын

    😂😂😂 nhiệt độ ở Việt Nam vào mùa hè rất khó chịu. Vì nó vừa nắng, nóng, oi bức, vừa có độ ẩm cao nên ra rất nhiều mồ hôi. Đến người còn thấy mệt mỏi mỗi khi mùa hè tới mà. 😅

  • @shotelco
    @shotelco2 ай бұрын

    You firm seems not to respond to business emails directed to your organization? Perhaps you can help?

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    Yes, please send to william@duongbusinessconsulting.com

  • @christopherlo7312
    @christopherlo7312Ай бұрын

    I would really like to here about long term retirinement & home rental in DaLat where Ken's wife is from, my favorite Vietnamese 😍 town.

  • @deotan6294
    @deotan6294Ай бұрын

    So is vietnam unstable?

  • @waynevietnam
    @waynevietnam18 күн бұрын

    Ken you are beyond articulate! We are lucky to have you but I can't subscribe while You tube continues with its predatory advertising methods.

  • @haiyu
    @haiyu2 ай бұрын

    Long time subscriber and love your content, but your business responses could use a bit of work! E-mailed you guys a week ago and still no response.

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    It looks like we have not received it. Please send it to william@duongbusinessconsulting.com . Thanks

  • @rockylee4696
    @rockylee46962 ай бұрын

    I thought the price of apartment dropped from 100% to only just 6%

  • @Alphmeister
    @Alphmeister2 ай бұрын

    6:39 92%?

  • @louiskats5116
    @louiskats51162 ай бұрын

    G’day Ken, Vietnam is the tiger of Asia. Bring on the retirement visa. Cheers Louis Kats 👍

  • @NewSpiritNewMan
    @NewSpiritNewMan19 күн бұрын

    Vietnam do not forget your root! The enemies peace is an act of silent invasions. Vietnam should never let anyone ruined your country especially colonialism!

  • @martinhanly9543
    @martinhanly95432 ай бұрын

    The real estate rental market is strong and the sales market is collapsing partly because people like me cannot get retirement visa to live there and are looking elsewhere.

  • @Teolulz

    @Teolulz

    Ай бұрын

    you will never get a retirement visa. don't be bitter 😂

  • @user-hp1gn5mg7c
    @user-hp1gn5mg7c2 ай бұрын

    Biggest set back with investing into Vietnam is the limitations on how much money you can transfer out of the country. Using investment as a carrot stick for retirees not a good solution, I rather just wait for some type of retirement visa.

  • @Teolulz

    @Teolulz

    Ай бұрын

    there will never be a retirement visa. the gov doesn't want to attract all the broke retirees from all over the world. there is no carrot stick. please don't come.

  • @dirtynoods
    @dirtynoods2 ай бұрын

    What is the best way to request the 1 hour consultation?

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    Send us an email.

  • @lichken
    @lichken2 ай бұрын

    Ho Chi Minh is great!!

  • @thomasho4825

    @thomasho4825

    Ай бұрын

    Don’t forget, he’s a little brother of Chairman Mo and also as socialist follow China

  • @yamuiemata
    @yamuiemata2 ай бұрын

    Real estate market is ballooning in Vietnam 😅

  • @user-qo3ci2wb3x
    @user-qo3ci2wb3x2 ай бұрын

    Vietnamese Central Bank’s gold auction claims to calm local markets - Bloomberg. 😂😂😂. Selling gold on paper - the buyer never actually takes possession

  • @keithprinn720
    @keithprinn7202 ай бұрын

    so basically say come and book an hour with your consultants little real ideas about what will happen with visas and property like condos for a retiree who buys if unsure about visas?

  • @Blood8Chapel
    @Blood8Chapel2 ай бұрын

    We're receiving news in the US that the internal politics of Vietnam in foreign affairs and foreign business developments is now under a whole different party that is not friendly to foreign investors. Also our manufacturing partners in Vietnam is telling us not to visit Vietnam as Taiwanese, Chinese, and western factories there are getting mobbed. Is this true?

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    Nonsensical.

  • @nguyenquancong

    @nguyenquancong

    Ай бұрын

    Vietnam is the place off every company's in the world

  • @Zetler
    @Zetler2 ай бұрын

    The transportation infrastructure should be a national embarrassment.

  • @MeetJohnnyNg

    @MeetJohnnyNg

    2 ай бұрын

    It’s what make Vietnam fun to live.

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    Why?

  • @mikeblevins327
    @mikeblevins3272 ай бұрын

    Hoping for retirement in Vietnam

  • @dancooper5741
    @dancooper57412 ай бұрын

    After recent financial scandals along with the level of embezzlement in so many companies & businesses …….how long will it take to shake off an already dodgy reputation. Restoring Integrity will take time & foreign investors will tread carefully with their money. Maybe the FDI inflows could have been a lot higher without all the shenanigans that have gone on.

  • @abcdefkkk123aa

    @abcdefkkk123aa

    2 ай бұрын

    Đất nước bạn không có tham nhũng sao? Tin tôi đi, nếu pháp luật đất nước bạn thực thi thì số tiền gian lận còn nghiêm trọng hơn vn. Ok

  • @Teolulz

    @Teolulz

    Ай бұрын

    you sound so bitter. must be a LBH.

  • @Teolulz

    @Teolulz

    Ай бұрын

    retirement visa is a horrible idea because it will bring more of these broke and bitter retirees to the country. these people are always unhappy and ungrateful.

  • @tonynguyen2927
    @tonynguyen29272 ай бұрын

    This man has a great knowledge of Vietnam’s economy. Especially on real estate. Vietnam has a massive corruption with all levels .

  • @_RedWizard
    @_RedWizard2 ай бұрын

    Green hydrogen is produced from renewables so how is natural gas powered hydrogen green?

  • @dgcho1499

    @dgcho1499

    2 ай бұрын

    Spot on!

  • @jamalgreen3056
    @jamalgreen3056Ай бұрын

    I find it funny how they try to equivalate interest rates to inflation.Just because interest rates are low doesn’t mean inflation is low because it’s not.They say inflation in USA is only at about 4% and they also say inflation in the Philippines and Vietnam is only 6%.How can this be when Asian currencies are much weaker than the dollar so how can a country like the USA 🇺🇸 have about the same percentage of inflation because it’s a lie.You cannot mention inflation and interest rates in the same conversation because they are different and effect the economy differently.The other thing to note is weather interest rates are high or low inflation will still be high.Governments raising interest rates doesn’t slow don’t inflation this is a method used in the 1970’s that no longer works.For one main reason because a lot of countries including developing countries are growing the real estate industry a little bit too much.And with so much development of née property that will increase the prices because it will increase the demand for those properties since there are more properties to buy.All of these low percentage numbers I don’t believe them the data being kept is too far off and is severely understating the real concrete experiences that most average citizens actually go through.Even here in the USA 🇺🇸 we are experiencing a much higher effect of inflation way more than 4%.The same as Vietnam,Vietnam actually has inflation above 100%.They never compare prices over a 30 year period only within the last 2-3 years.Because if you go back further you will see prices increase a lot from the 1900’s till 2024.No way none of these countries don’t have no 4,6% inflation 🤔🤣🤣.Most average citizens are struggling to pay rent for one month that doesn’t sound like no 6% to me where are they getting these percentage numbers from I mean seriously.

  • @anuonggiay9803
    @anuonggiay98032 ай бұрын

    ❤😊😊

  • @user-rc5pg2nz7r
    @user-rc5pg2nz7r2 ай бұрын

    ❤ Shanghai , Beijing ,QUANG CHAU CHINA homes prices already down for over 70 percent from last year 😢

  • @ChatGPT-xm7xs

    @ChatGPT-xm7xs

    2 ай бұрын

    is much further falls. From heres down 95 por cents at least! then you can buy nice bunghole in beegees for like 5000 youans snd such

  • @UncleHoCM
    @UncleHoCM2 ай бұрын

    Political stability and it's foreign policy is Vietnam's strength.

  • @LD-Orbs

    @LD-Orbs

    2 ай бұрын

    Smart folks. The Viet diplomatic corps looks to be as skilled as China's used to be, back in the day.

  • @ExpatInterview
    @ExpatInterview2 ай бұрын

    If Vietnam plans properly designing a Retirement Visa by slightly undercutting Thailands financial requirements they can pull both current and future retirees to Vietnam. This will help stimulate Vietnam’s economy due to their need for goods and housing. I think it would be a big mistake to follow the example of Mexico and not only miss the opportunity to pull retirees from Thailand due to the lower cost of living in Vietnam but also a mistake like Mexico, to price retirees out of qualifying for a Vietnam retirement.

  • @Zetler

    @Zetler

    2 ай бұрын

    It’s going to be difficult to beat Thailand as a retirement destination. Aside from the financial requirements Thais do not have stupid laws that restrict the press and freedom of speech.

  • @Teolulz

    @Teolulz

    Ай бұрын

    Thailand is destroyed because of they allowed in a bunch of broke retirees. why would Vietnam want to go that path?

  • @ExpatInterview

    @ExpatInterview

    Ай бұрын

    @@Teolulz lol! Your opinion has been heard. 😀

  • @lawrence1135
    @lawrence11352 ай бұрын

    Vietnam must re-unify with Trung Quoc....

  • @hexfreedom3614
    @hexfreedom36142 ай бұрын

    Do a few food with girls video then you'll get the amount of sub you've been desired for. You're welcome.

  • @duypham76
    @duypham762 ай бұрын

    Still not as bad as before and after the vietcong took over

  • @donkeykong516
    @donkeykong5162 ай бұрын

    The manipulation of USD currency by the US rocks small nations like Vietnam. Thailand was hit hard but learned to diversify from the USD to insulate from US currency games to extract wealth from others.

  • @tedchandran
    @tedchandran2 ай бұрын

    Jai Hind. Can grease the economy but don't put too much glee like us Indians.

  • @ricklulu3572
    @ricklulu35722 ай бұрын

    It's also the new drink and driving law that kill the restaurant business that added another nail in the coffin.

  • @Viking380

    @Viking380

    2 ай бұрын

    There are so many ride services, this certainly doesn’t appear insurmountable. Only happening now because suddenly there are cars.

  • @phanphan3331
    @phanphan33312 ай бұрын

    Luật sư Dương và cộng đồng luật sư và những người kinh doanh cho thuê Bdsan - du Lịch - dịch vụ ... có thể kiến nghị với Chính phủ tăng thời hạn visa cho đối tượng là người nghỉ hưu có lương hoặc có nguồn thu nhập cố định đạt mức nào đó có thể sống dài hạn tại VN như Thái Lan- Du Bai...làm được như vậy kinh tê VN sẽ phát triển và giúp tháo gỡ khó khăn cho du lịch và bát đông sản hiên nay, giúp kinh tê phát triển

  • @alfrednguan9832
    @alfrednguan98322 ай бұрын

    Indonesia has a better business environment than Vietnam in general

  • @BobBob-ey5br
    @BobBob-ey5br2 ай бұрын

    Vietnamese Chicken 🐔 Little....

  • @vsonic86
    @vsonic862 ай бұрын

    You lying. Isn’t that they on the raise right now?

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    What do you mean?

  • @vsonic86

    @vsonic86

    2 ай бұрын

    @@duongglobalbusinessconsulting Isn't that the vietnamese are doing well right now with their country? Saw there are building being developed. People are having a job because there are so many factories. They also bring a lot of goods to USA. Why are they on the fall?

  • @duongglobalbusinessconsulting

    @duongglobalbusinessconsulting

    2 ай бұрын

    It looks like our Attorney answered all your questions in the video.

  • @Sky92651
    @Sky9265128 күн бұрын

    Lot of talk not much in facts, repeats many Government factoids, really?

  • @yanxuan9347
    @yanxuan93472 ай бұрын

    In the next five years, Vietnam will collapse for the following reasons: Vietnam's problems are very big, and many traps are waiting for it. Firstly, Vietnam's industrialization is still very low and there are not many high-end industries. The domestic economy relies heavily on foreign companies, so its ability to resist risks is limited. Firstly, Vietnam's biggest problem is taking too big a step, with almost complete liberalization of finance and capital and no regulation. The second issue is internal corruption, and the third is blind development and investment, which includes both the government and ordinary people. Thirdly, the Vietnamese government lacks overall planning. Social changes are happening too quickly, and both the government and the people are facing significant impacts at all levels, making them completely unprepared to cope. There is no risk assessment for the rapid changes caused. When a problem arises, it directly affects the entire country and has no resistance at all. The proportion of foreign investment is too high, and the economic data is all false.

  • @Teolulz

    @Teolulz

    Ай бұрын

    what a pile of cow manure.😂

  • @user-mb1zb6iu5j

    @user-mb1zb6iu5j

    21 күн бұрын

    I am no economist or savvy in politics. But many of your comments about overall planning seem to me like signs of the government is not controlling absolutely everything, giving the population some level of liberty and freedom. Maybe not much but it's a good sign.

  • @James-gr1vk
    @James-gr1vkАй бұрын

    Foreign investors should invest in philippines.

  • @ccie4101
    @ccie41012 ай бұрын

    Don't worry, Vietnam's economy is doing OK this year, not as well as last year but much better than next year :-)

  • @lichken

    @lichken

    2 ай бұрын

    Didn't you watch the video, Viet Nam is still growing faster than China. Yes, Ho Chi Min h is great!!

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