Should Vietnam become a developed economy?: Foreign Policy newspaper

VOV.VN - The US-China trade war may bring opportunities for Vietnam, said the Foreign Policy newspaper website.

should vietnam become a developed economy?: foreign policy newspaper hinh 0
Workers manufacture spare parts of motorized vehicles and vehicle motors at Japan-invested Keihin Vietnam Company Ltd, in Thang Long 2 Industrial Park in Hung Yen province (Photo: VNA)
In his article, Bennett Murray quoted Vietnam’s  Ministry of Planning and Investment announcing that foreign direct investment in the country increased by nearly 70 percent year-on-year in the first five months of 2019, the highest such increase since 2015. 

The article argued that “while Vietnam will likely continue to thrive as it attracts a greater share of high-value manufacturing—Foxconn, the Taiwanese manufacturing giant, may even begin producing iPhones in the country.”

But the newspaper pointed out challenges “An investment surge comes with numerous short-term impacts, with new factories raising real estate prices while taxing Vietnam’s improving but nonetheless inferior infrastructure. Demand for skilled workers will also outpace supply if growth moves too fast.”

“These problems will not stop Vietnam’s rise. As one of the world’s fastest-developing countries, its infrastructure will catch up and the quality of its labor force will increase,” Foreign Policy newspaper said. 


Related news