Vietnam's fundamentals point to robust medium-term outlook
Low labour costs, a skilled workforce, greater FDI inflows as well as China's economic transformation help make the country a compelling destination for manufacturers.
SINGAPORE and Vietnam commemorated their close ties last week at the 20th anniversary of the Vietnam-Singapore Industrial Park (VSIP). Two memoranda of understanding were inked to potentially expand the size of the current VSIP by 20 per cent.
During Vietnamese President Tran Dai Quang's visit to Singapore in August, he also spoke about the opportunities for Singaporean and international businesses in Vietnam and the country's continued efforts to attract investors.
Over the past few years, Vietnam has witnessed rapid economic growth on the back of strong manufacturing, growing exports and inflow of foreign direct investment. While Vietnam's economy slowed in the first two quarters of 2016 owing to the worst drought it has seen in three decades and the uncertain global economic environment, the country's economic fundamentals are in place and point to a robust medium- term economic outlook.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Columns
‘Competition for talent’ a poor excuse to keep key executives’ pay under wraps
OCBC should put its properties into a Reit and distribute the trust’s units to shareholders
Why a stronger US dollar is dangerous
An overstimulated US economy is asking for trouble
Too many property agents? Cap commissions on home sales
Time to study broadening of private market access