Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam’s economy ison a growth trend driven by an opening up to foreign capital while the stockmarket is growing rapidly and offers attractive returns for a lower entry pricethan other Asian markets, said an article recently published on Luxembourg’snewswire delano.lu.
It said Vietnam’s growthis currently progressing at a rate of 6.5%, driven by four factors: infrastructurespending, healthy macroeconomic policies, the development of a middle classthat boosts demand and the attractiveness of the country to foreign investors.
The first asset of thecountry is its population. Vietnam has a young and educated population, the article said, noting the emergence of a middle class that consumes.In an economy where 72% of activity is driven by local consumption, this is anasset, it said.
While Vietnam stillexports a lot of agricultural products, since 2010, the share oftechnology-related exports has increased fivefold and now exceeds 30%. “Vietnamis becoming an export heavyweight with a steadily rising global market sharethat has reached 1.6% today”, the article said.
Meanwhile, Russia’sSputnik news agency said Vietnam is expected to become a new production hub ofthe world.
It cited Apple’s listof suppliers for 2021 fiscal year saying that the group now has 25 partners with factories inVietnam, accounting for 13.9% of the group's total suppliers as of the fourth quarter of 2021, upfrom the previous year.
A number of importantproducts in the global mobile phone market by Samsung, Xiaomi and Apple arealso produced in Vietnam./.
