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Vietnam sees opportunities to emerge as global supply chain moves

Stable economic growth has made Vietnam an attractive destination for foreign investors particularly amid current changes in the global supply chain, according to a recent article published by The Economic Times.
Vietnam sees opportunities to emerge as global supply chain moves ảnh 1The Van Trung industrial park in Bac Giang province (Source: VNA)
New Delhi (VNA) – Stable economic growth has madeVietnam an attractive destination for foreign investors particularly amidcurrent changes in the global supply chain, according to a recent article publishedby The Economic Times.

According to the article, a disruption of international trade, resulted fromthe US-China trade conflict and the COVID-19 pandemic, has necessitated a rethink on the supply chain. Earlier,supply chains were designed to keep costs low. In the post pandemic era, supplychains are being reworked to reduce the risks of future disruptions.

The international community is looking to movetowards relocating supply chains to India and Vietnam, it said.

The article cited a recent Q2 Barometer report by QIMA,which showed that Vietnam and India came emerge as alternative sourcinglocations.

Accordingly, Vietnam’s reforms allow foreigners to ownproperty as well as majority holdings in Vietnamese companies. Consistenteconomic growth has also made Southeast Asian nation attractive for foreigninvestment.

The QIMA global sourcing survey showed that 43 percent ofUS-based respondents described Vietnam among their top three buying geographiesas of early 2021 and around one-third of buyers globally./.
VNA
#The Economic Times#global supply chain#US-China trade conflict#COVID-19#QIMA#alternative sourcing locations#vietnam#vietnam news agency#vietnamplus
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