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2.3 S.E. ASIA: Vietnam
2018/01/21
Personal income in Vietnam is growing, and the middle class is expanding rapidly, with a large young population. Presenting rapid growth, the air conditioner market in Vietnam has grown to be the second-largest markets in Southeast Asia following Indonesia, and provides huge business opportunities.
 
However, Vietnam was cool in the period spanning April to May in 2017, and the start of RAC sales was delayed, resulting in a sales decrease compared with 2016. Also, since the southern region experienced the rainy season early, the RAC market in 2017 decreased by 14.6% year on year to 1.7 million units.
 
Many economic development zones have been set up in Vietnam, and Japanese, South Korean, and Taiwanese manufacturers have moved in. Vietnam is attracting fast-growing foreign capital, and hotel and factory construction projects are on the rise. There are a lot of building construction projects going on, and demand for commercial air conditioners such as VRFs is increasing compared with 2016.
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