Despite rising trade protectionism worldwide, Vietnam continues to set new export records and has emerged as the next manufacturing hub, CBRE said.
Vietnam is outperforming its regional peers in terms of exports and can further count on more FDI to come as the result of the ongoing US-China trade tensions. And it all now depends on whether the country is equipped with appropriate capacity to absorb such FDI inflows.
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.
Vietnam is having what it takes to upsize its economy, outshining even Singapore, thanks to a raft of foreign investors queuing to get into the nation, a strong FDI drift and the ongoing trade tensions that promote the nation to be the new manufacturing hub.
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.
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.
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.
TheLEADER and Corporate Management Group will jointly hold Vietnam Business Outlook 2019 with the participation of three brilliant speakers including Dr Tran Du Lich, Dang Van Thanh and Mai Huu Tin.
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.
Publication permit No. 348/GP-BTTTT dated July 19, 2017, granted by the Ministry of Information and Communications of the Socialist Republic of Vietnam
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