Vietnam to become world's next growth market: Seeking Alpha
(VOVWORLD) - The COVID-19 situation has sped up the manufacturing transition and Vietnam is uniquely positioned to take advantage of this move and has welcomed many companies that have looked to shift manufacturing to outside of China, according to Seeking Alpha, a crowd-sourced content service for financial markets.
 Vietnam’s first fully-fledged domestic car manufacturer VinFast (Photo: VNA) |
Its recent article said Vietnam’s economy is growing rapidly at around 6-7% and is still the fourth largest economy in the region and is growing much faster than the other regions.
Vietnam has a slightly more diversified economy than other countries in the region, especially when Vietnam is going into demographic dividend era where more than 70% of its population will be below 35 years of age, said the article.
It added that many companies will want to take advantage of this consumption boom and take a leap to invest further in this economy. Seeking Alpha concluded that Vietnam will be the next manufacturing alternative to China.