ESTABLISH A COMPANY IN VIETNAM: THE POTENTIAL OF THE MANAGEMENT CONSULTING FIELD

The demand for management consulting services in the Asia-Pacific region is growing rapidly, driven by economic expansion and the increasing complexity of business operations. This trend presents significant opportunities for foreign investors looking to establish management consulting firms in the country.

Market potential for management consulting in Vietnam

The management consulting sector is poised for significant growth, reflecting the evolving needs of businesses.

Market size and growth trends

The management consulting market has experienced steady growth in recent years and is expected to continue its upward trajectory. The global market for management consulting services reached USD 341.60 billion in 2024 and is expected to expand to USD 430.82 billion by 2029, reflecting a CAGR of 4.75% during this period.

The management consulting market has experienced steady growth in recent years

The Asia-Pacific region, particularly Southeast Asia, is emerging as a key player in the global consulting industry. In 2020, the consulting market in Southeast Asia, including Vietnam, was valued at approximately USD 9,479 million, with multinational firms leading the sector. Factors such as digital transformation, the adoption of emerging technologies (big data, AI, and cloud computing), economic expansion, and increasing foreign investments are fueling the demand for consulting services in Vietnam.

Opportunities for foreign investors

Vietnam continues to be a thriving market for foreign investors to establish business. In 2024, the country registered 157,200 new enterprises across various industries, with an additional 76,200 businesses resuming operations - representing a 7.1% increase from 2023. Additionally, Vietnam's commitments under the World Trade Organization (WTO) have created a favorable environment for foreign investors, including the management consulting field. Especifically, management consulting services in Vietnam do not have restrictive conditions for foreign investment, making it easier for international firms to establish operations.

Management consulting services in Vietnam do not have restrictive conditions

Regulations for establishing management consulting firms in Vietnam

Vietnam has implemented clear and transparent regulations to guide foreign investors in establishing management consulting companies.

100% Foreign ownership permitted

Foreign investors are allowed to establish 100% foreign-owned management consulting firms in Vietnam. This allowance aligns with Vietnam's WTO commitments, which stipulate no restrictions on foreign investors in this sector (except for business tax consulting). The regulatory framework ensures that foreign-owned consulting enterprises can operate freely under Vietnamese law, creating an attractive investment climate.

Establishing branches allowance

Three years after Vietnam’s accession to the WTO, foreign management consulting firms were granted permission to establish branches in the country. This provision allows companies to expand their presence, increase operational scalability, and better serve clients across different regions. The ability to open branches enhances market access and enables firms to offer tailored solutions to a diverse clientele.

Management consulting foreign companies are allowed to open branches

Vietnam’s management consulting market presents significant growth potential, bolstered by a favorable regulatory environment that supports foreign investment. The ability to establish 100% foreign-owned firms and open branches makes Vietnam an attractive destination for international consulting enterprises. Contact G2B today to learn more about how to establish a management consulting company in Vietnam! We are your dedicated partner who will stand by your side on the expansion journey in Vietnam.