Vietnam Emerging as Manufacturing Powerhouse
Vietnam Emerging as Manufacturing Powerhouse

Vietnam Emerging as Manufacturing Powerhouse

Vietnam Emerging as Manufacturing Powerhouse

From mobile phones to furniture, Vietnam’s export boom shows no signs of losing steam, defying a gloomy outlook at the beginning of the year when President Donald Trump persisted with his trade threats, Yahoo reported. Furniture maker Xuan Hoa Viet Nam Co. is planning for a 20% increase in export orders next year by investing $3 million on equipment to expand production, General Director Le Duy Anh said in an interview. When Trump pulled the US out of the Trans-Pacific Partnership in January, it was seen as a blow to Vietnam, which exports about a fifth of its goods to the world’s largest economy.
Instead, a global trade recovery and Vietnam’s young and low-cost workforce have been magnets for international investors like Nestle, which have opened factories in the country this year.
That’s helping underpin its economy, which expanded 6.81% this year, among the fastest in the world. “We’ve seen Vietnam’s coming of age this decade with its rapid transformation to a manufacturing powerhouse,” said Eugenia Victorino, an economist at Australia & New Zealand Banking Group in Singapore.


Short URL : https://goo.gl/3rZT1h
  1. https://goo.gl/HNoENV
  • https://goo.gl/qbxtif
  • https://goo.gl/PceekY
  • https://goo.gl/QLfdyi
  • https://goo.gl/WpEd68

You can also read ...

China Challenges US Solar Panel Duties
China says it is challenging a US tariff hike on solar panels...
In a retaliatory move, President Recep Tayyip Erdogan’s government on Wednesday announced higher tariffs on some US imports, namely on passenger cars (120%) and leaf tobacco (60%).
Turkey has raised tariffs on some US imports, including...
World trade volume growth peaked in January at almost 5.7% year-on-year but nearly halved to less than 3% by May.
Cyclical indicators point to slower and more uneven growth in...
Moody’s Predicts Slower Fiscal Progress in S. Africa
South Africa’s fiscal consolidation will be slower than the...
Nigeria CPI Drops to 11.14 Percent
Nigeria’s National Bureau of Statistics says the consumer...
File picture of Kim Jong-un (L) and Moon Jae-in at the truce village  of Panmunjom, South Korea.
South Korea President Moon Jae-in on Wednesday offered a bold...
Surging Inflation Mars Philippines Growth
The Philippine economy in 2018 is a story that can be summed...
Transport tickets and fuel have driven up costs for consumers.
Inflation in the UK climbed in the month of the July, as had...

Add new comment

Read our comment policy before posting your viewpoints