Vietnam has a rather similar export manufacturing capacity with China and this is helping the nation take over some of China’s key export items to the US as the US-China trade war is escalating, according to Fiingroup.
In 2019 and 2020, Vietnam will be welcoming a new wave of production and manufacturing shifting from China. Such trend will give rise to the industrial property across the nation, according to CBRE.
Outlook of Vietnam's economic growth in 2019 will be a picture mixing the grey shade of things to look out and the pink shade of things to look forward to, according to influential economist Dr. Vo Tri Thanh.
Trade war is opportunity to revise business models with China as Vietnam needs to be more flexible in making strategies to take advantage of US-China trade war, according to Professor Tung Bui.
The uncertainty of the economy in the changing trends, the impacts of the US-China trade war and the infrastructure in need of upgrading are the main challenges that Vietnam has to face in 2019.
While many enterprises are excited by the shifting wave of investment to Vietnam as the US-China trade war intensifies, Dr Mai Huu Tin, U&I Group President warned that Vietnam might just be a stopgap.
There are three reasons why economist Vu Thanh Tu Anh was pessimistic about Vietnam’s economic outlook in 2019: the declining global economy, the unpredictable impacts of the US-China trade war on Vietnam, and Vietnam’s complicated socio-economic issues.
Export volume of Vinh Hoan can reach nearly 81,000 tons this year, up 4.8 per cent and an equivalent revenue of $413 million, up 6.7 per cent year over year.
Even China awaits after the US elections to devise appropriate strategy so Vietnam must wait for response accordingly.
The Vietnamese government will have appropriate improvisation instead of floating the exchange rate under the context of escalating trade war between the U.S. and China, according to economic experts.
It is possible that foreign companies will exit from emerging markets like Vietnam to return to their countries, surely affecting its economy which is greatly depending on FDI contribution, according to Nguyen Thi Phuong Thao, CEO of VietJet Air.
