Chinese Taipei media appreciates Vietnam as global manufacturing hub
(VOVWORLD) -Despite a year full of challenges in 2021, the Vietnamese economy has not been hampered by supply chains disruptions but sustains its positive outlook and stature as a global manufacturing hub in 2022, according to digitimes.com.tw, a media outlet of Chinese Taipei.
 Electronic meter production line. (Illustration: VNA) |
The article said Vietnam is an attractive investment destination thanks to low production costs, which is also boosted by the Regional Comprehensive Economic Partnership (RCEP). Together with the country’s fast economic growth and standing in global trade, Vietnam’s supply chains are developing continuously and becoming a priority choice for manufacturing in the region.
The size of the Vietnamese economy ranks 40th in the world and fourth in the Association of Southeast Asian Nations (ASEAN). In the IT industry, the country has outpaced many superpowers and become one of the world’s leading mobile phone producers and exporters. It ranks 9th in terms of software export and outsourcing and 6th in terms of computer games in the world.
An increasing number of companies are seeking to invest in ASEAN or other regions. Among the countries with competitive advantages for investment, Vietnam has emerged as an efficient choice in Southeast Asia, the article noted.