Vietnamese businesses seek to expand into international markets.

DNHN - The UOB 2023 business outlook study reveals that nine out of ten Vietnamese businesses surveyed intend to expand into foreign markets within the next three years.

The study was based on the results of a nationwide survey of 505 businesses, the majority of which were located in Ho Chi Minh City and Hanoi.

According to UOB, businesses are focusing heavily on cross-border digital commerce platforms as a result of the need to expand internationally. Six out of ten businesses are enthusiastic about utilizing digital commerce platforms.

In addition, the company's motivation to expand abroad was to increase revenue, boost profits, and establish a reputation as an international business.

According to UOB, businesses are focusing heavily on cross-border digital commerce platforms as a result of the need to expand internationally. Six out of ten businesses are enthusiastic about utilizing digital commerce platforms.

In addition, the company's motivation to expand abroad was to increase revenue, boost profits, and establish a reputation as an international business.

According to this Singaporean bank, 72 percent of Vietnamese businesses have future expansion plans in Southeast Asia. Thailand, Singapore, and Malaysia are the most popular destinations for Vietnamese businesses in Southeast Asia.

However, businesses expanding into international markets face obstacles such as a lack of customers in new markets, difficulty in locating suitable partners for cooperation, and a lack of personnel and internal expertise to promote their products. push to expand international markets.

"We are familiar with the obstacles Vietnamese companies face when attempting to enter foreign markets, and we work closely with them to mitigate risks and address complex regulatory issues. UOB Bank Vietnam's Head of Wholesale Banking Division, Pham. Nhu Anh, remarked, "With a vast array of resources, including trade finance, cash management solutions, and digital platforms, we help businesses build a solid foundation for international expansion."

PV (Synthesis)