In December 2024, Vietnam’s other service activities sector recorded 3 new projects with US$0.57 million in newly registered capital, according to data from Vietnam’s Ministry of Planning and Investment. This represents a 200 percent increase in the number of new projects compared to November, which saw 1 new project with US$1.34 million in newly registered capital.
In 2024, the sector attracted a total of 9 new projects with US$169,500 in newly registered capital.
Vietnam’s miscellaneous service activities sector encompasses a wide range of services that support the country’s economic and social needs, including personal services, repair and maintenance, wellness, beauty, and other specialised activities. This sector has seen steady growth, driven by rising disposable incomes, urbanisation, and changing consumer lifestyles. Services such as beauty salons, spas, fitness centres, tailoring, and equipment repairs are increasingly in demand, particularly in urban areas where consumer spending on personal services is growing.
Foreign direct investment in this sector remains limited compared to larger industries like manufacturing or real estate but is gradually increasing, especially in high-end wellness services and franchise opportunities for beauty and fitness brands. Investors from countries such as South Korea, Japan, and Thailand have entered the market with services catering to middle and high-income consumers. Vietnam’s growing middle class and urbanisation trends continue to create opportunities for domestic and foreign businesses in this sector, contributing to economic diversification and job creation. As consumer preferences evolve, there is potential for further innovation and expansion in this dynamic segment of the economy.
See also: How to Start a Business in Vietnam