CHAPTER 1:

1. GDP Growth:

 Detailed Data:

o According to the General Statistics Office (GSO), Vietnam's GDP growth for
2024 reached 7.09%.

o Quarterly growth progression:

 Q1: 5.98%

 Q2: 7.25%

 Q3: 7.43%

 Q4: 7.55%

o Sectoral contributions:

 Benefit division: Expanded by 7.38%, contributing 49.46% to generally

GDP development.

 Industry and development: Expanded by 8.24%, contributing 45.17%.

  Agro-forestry-fishery: Increased by 3.27%, contributing 5.37%.

o Vietnam's GDP reached more than VND 11.51 quadrillion (USD 453.4 billion)
in 2024, with per capita GDP rising to VND 114 million (USD 4,490).

Vietnam’s Economic Structue (% of GDP)

Sector 2024
Service 42.36
Industrial and construction 37.64
Argo-forestry-fishery 11.86
Source: GSO

PESTEL Analysis:

 Political: Vietnam's steady political environment cultivates financial development.

Government arrangements pointed at pulling in outside coordinate venture (FDI) and
advancing sends out have been pivotal.

 Economic:

o Vietnam's export-oriented economy is intensely affected by worldwide

financial conditions. Recuperations in key markets, such as the U.S., altogether
boosted Vietnam's fabricating and send out segments.

o The increment in FDI too plays a expansive part in GDP development.

 Social: Vietnam's developing center course contributes to expanded residential

utilization, supporting financial extension.

 Technological: Expanded speculation in fabricating innovations upgrades efficiency

and competitiveness, driving mechanical development.

 Environmental: Common fiascos, like tropical storms, can affect financial movement,
especially within the agrarian division. In any case, Vietnam is working to construct
versatility.

 Legal: Vietnam's continuous endeavors to move forward its lawful system and
commerce environment draw in remote venture and bolster financial development.

Source:
General Statistics Office of Vietnam. (2024, April). Socio-economic situation report in the
first quarter of 2024. [Website]. Retrieved from https://www.gso.gov.vn/en/data-and-
statistics/2024/04/socio-economic-situation-report-in-the-first-quarter-of-2024/

Vietnam Law Magazine. (2024, March 29). 2024’s rosy socio-economic results serve as
foundation to accelerate 2025 growth. [Website]. Retrieved from
https://vietnamlawmagazine.vn/2024s-rosy-socio-economic-results-serve-as-foundation-to-
accelerate-2025-growth-73352.html

Vietnam Briefing. (2024, March 25). Vietnam economy in 2024: GDP, trade, FDI. [Website].
Retrieved from https://www.vietnam-briefing.com/news/vietnam-economy-2024-gdp-trade-
fdi.html/

2. Inflation:

 Detailed Data:

o Concurring to the Common Measurements Office of Vietnam (GSO), the

Customer Cost File (CPI) expanded by 3.63% in 2024. This figure is within the
National Assembly's target range.

Consumer Price Index in 2024

5

2
Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24

o Factors contributing to inflation:

 Fluctuations in global oil prices.

  Domestic food price variations.

 Healthcare services: +2.19 percent;

 Transportation: +0.57 percent;

 Housing, electricity, water, and construction materials: +0.53 percent;

and.

 Clothing and footwear: +0.28 percent.

PESTEL Analysis:

 Political:

o Financial Approach: The State Bank of Vietnam (SBV) plays an imperative part
in overseeing expansion through altering intrigued rates, required save
necessities, and open showcase operations. Their endeavors to stabilize the
Vietnamese dong trade rate are significant.
o Government Regulations: Price control and regulation of basic goods and
services that may affect inflation. Government subsidies for certain goods may
also have an impact.
 Economic

o Worldwide product costs: Vietnam's moment subordinate economy is helpless

to variances in worldwide oil, nourishment, and crude fabric costs. This cost
increment specifically influences household generation costs and shopper costs.
o Supply chain disruptions: Global and regional supply chain disruptions caused
by geopolitical tensions or natural disasters may lead to shortages and price
increases.

o Domestic demand: Due to the growth of the middle class, increased domestic
consumption may bring pressure

o Exchange Rate: The VND exchange rate against major currencies, particularly
the USD, affects import costs and inflation.
  Social:

o Buyer Behavior: Changes in shopper investing designs and desires of future

swelling can impact current cost levels.
o Wage Development: Increments in compensation can lead to higher buyer
investing, which can fuel expansion on the off chance that not coordinated by
efficiency picks up.
 Technological:

o E-commerce and Digitalization: The development of e-commerce and

computerized installment frameworks can impact cost straightforwardness and
competition, possibly influencing expansion.
o Supply Chain Innovation: Changes in supply chain administration innovations
can offer assistance moderate supply chain disturbances and decrease cost
instability.
 Environmental:

o Characteristic Catastrophes: Surges, dry seasons, and other characteristic

calamities can disturb agrarian generation, driving to nourishment deficiencies
and cost increments.
o Climate Alter: Long-term climate alter impacts on horticulture and asset
accessibility can contribute to inflationary weights.
 Legal:

o Exchange Approaches: Purport taxes and exchange assentions can impact the
costs of imported merchandise.
o Competition Laws: Viable requirement of competition laws can anticipate cost
control and guarantee reasonable estimating.

 Source:

General Statistics Office of Vietnam. (n.d.). Official website. Retrieved from

https://www.gso.gov.vn/en/

General Statistics Office of Vietnam. (2024, April). Socio-economic situation report in the
first quarter of 2024. Retrieved from
https://www.gso.gov.vn/en/data-and-statistics/2024/04/socio-economic-situation-report-in-the-
first-quarter-of-2024/
Trading Economics. (n.d.). Vietnam inflation rate (CPI). Retrieved from
https://tradingeconomics.com/vietnam/inflation-cpi

Vietnam Briefing. (2024, March 25). Vietnam economy in 2024: GDP, trade, FDI. Retrieved
from https://www.vietnam-briefing.com/news/vietnam-economy-2024-gdp-trade-fdi.html/

Vietnam Law Magazine. (2024, March 29). 2024’s rosy socio-economic results serve as
foundation to accelerate 2025 growth. Retrieved from https://vietnamlawmagazine.vn/2024s-
rosy-socio-economic-results-serve-as-foundation-to-accelerate-2025-growth-73352.html

VinaCapital. (2025, January 10). Monthly macro summary – December 2024. Retrieved from
https://vinacapital.com/wp-content/uploads/2025/01/20250110-Monthly-Macro-Summary-
December-2024.pdf

CHAPTER 2: INDUSTRY ANALYSIS: ICT-CE RETAIL

1. Market Overview

By 2024, Vietnam's ICT-CE (information and communication technology-consumer electronic

products) retail market will show significant growth, which will benefit from the rapid
digitalization process, young people's understanding of technology and the government's
measures to promote digital transformation.

2. Growth and recovery:

 It is reported that ICT-CE retail industry shows positive signs of recovery after difficult
times. Specifically, ICT-CE retail chain stores have the fastest recovery rate of net
profit, with an average growth rate of 1. Twice as much as the same period. This shows
that the purchasing power of consumers is recovering.

Source: https://www.tinnhanhchungkhoan.vn/trien-vong-nao-cho-co-phieu-nganh-ban-le-
post365822.html

 In July 2024, the total retail sales of goods and services in Vietnam increased by 9. It
increased by 2% year-on-year, indicating that the economic consumption capacity is
returning to positive growth.
Source: https://alias.vn/phan-tich-nganh-ban-le-trien-vong-tuong-lai/

 The domestic ICT retail market has entered a saturated period, and the growth rate is
expected to be 5% from 2025 to 2030. (Source: FinSuccess) (Vietnam)

3. Market trends:

 According to VietstockFinance, among the five companies trading ICT and CE (mobile
phones and electrical appliances) products on the exchange, all companies achieved
profit growth in the second quarter of 2024.
 Net profit of ICT-CE businesses
Unit: Billion VND 1172

83 89
17 3 28 27 6 18

-219

MWG DGW PET FRT PSD

Q2/2023 Q2/2024

Source: VietstockFinance

 The rise of e-commerce: Online platforms such as Shopee, Lazada and Tiki are
increasingly occupying market share, changing the way consumers buy ICT-CE
products.
 Shrewd items and Web of Things: The request for savvy gadgets and Web of Things
(IoT) items is expanding drastically, from keen phones and savvy domestic gadgets to
shrewd domestic arrangements.Multi-channel customer experience: retailers focus on
providing seamless shopping experience on online and offline channels.
 Multi-channel client encounter: Retailers center on giving consistent shopping
involvement on online and offline channels.

Source: https://alias.vn/phan-tich-nganh-ban-le-trien-vong-tuong-lai/

4. Competition:

 The market is witnessing fierce competition among large retailers, such as

Thegioididong, FPT Retail and e-commerce platforms.
 Big brands such as Thegioididong, FPT Shop, Viettel Store and Cell Phones account
for about 50% of the market, and the rest belong to other brands
Source: https://fisc.vn/nganh-trien-vong/chuoi-gia-tri-cua-nganh-ban-le-ict-tai-viet-nam.html

 MWG also achieved 86% after-tax profit plan 2.4 trillion VND

Target 2024 (Billion VND) Performance 6M2024 (%)

Code
Income Income Income Income
Revenue Revenue
Before Tax After Tax Before Tax After Tax

FRT 37,300 125 49% 128%

MWG 125,000 2,400 52% 86%
PSD 7,203 100 80 41% 48% 48%
PET 18,540 260 205 48% 44% 42%
DGW 23,000 490 43% 37%

Source: VietstockFinance

5. Prospection:

 Vietnam's ICT-CE retail industry is anticipated to proceed to develop within the

another few a long time, much obliged to the advancement of innovation and the rise
of the center class.
 Retailers got to center on giving a great client involvement, contributing in online deals
channels, and taking advantage of unused innovation patterns to succeed within the
showcase.
 In a word, Vietnam's ICT-CE retail industry is experiencing a period full of turbulence
and opportunities. Enterprises need to master market trends and adapt to changes in
consumer behavior in order to maintain and develop in this competitive environment.