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link bet88ASEAN enterprises positive on Vietnam’s economy
Standard Chartered report notes that Vietnam has made rapid progress link bet88 becoming a dynamic, competitive country.
ASEAN enterprises have a positive view of Vietnam as the country is considered a frontier market link bet88 Southeast Asia, according to Standard Chartered’s “Winning link bet88 ASEAN” report.
The report showcases business sentiments and the opportunities and strategies that corporates can undertake to navigate global shifts and drive growth link bet88 the region. The findings underscore the impetus for greater effective public-private partnerships (PPPs) to accelerate recovery and resilience link bet88 ASEAN and beyond.
The report indicates that corporates are optimistic about their businesses link bet88 Vietnam, with 58 per cent having existing and future plans to expand sales link bet88 the country.
Vietnam has made significant progress link bet88 becoming a dynamic, cost-competitive nation. It has received greater attention as an alternative manufacturing hub as businesses increasingly adopt a “China plus one” diversification strategy.
Anchored on three strategic national plans - the New National Industrial Policy, the Digital Transformation Plan, and the National Strategy on Green Growth - Vietnam has a long-term plan to digitize production and supply chains. For instance, it is developing smart factories to improve efficiency and competitiveness as well as fostering priority industries and green growth.
Ms. Michele Wee, CEO of Standard Chartered Vietnam, said Vietnam’s medium to long-term prospects remain bright, supported by its favorable demographics, improving domestic fundamentals, and strong commitment to regional and global integration.
Vietnam has also emerged as an attractive investment location for foreign investors due to its competitive workforce and various cost-saving factors. The government has pushed for reforms link bet88 incentives to attract investors and to simultaneously improve the business environment
“As an increasingly important player link bet88 international trade and global supply chains, and with its role as an alternative manufacturing hub, Vietnam continues to present appealing opportunities for businesses looking to expand link bet88 the region,” Ms. Wee said.
