Argentina media hails VN’s economic achievements
(VOV) -Argentina’s newspaper La Nación (Nation) has described Vietnam as a symbol of successful economic development in Southeast Asia, with a strong increase in both exports and foreign direct investment.
The paper said in a recent article that Vietnam, together with Cambodia, Laos, Myanmar and Thailand, is emerging as a new industrial hub attractive to investors thanks to its low-cost and dynamic labour force.
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La Nación noted that located near the world’s leading supply chain of electronic products, Vietnam is shifting to the production of more sophisticated modern goods. Intel Corporation, a world's largest and highest valued semiconductor chip makers began its operation in Vietnam in 2010 as it is attracted by an incentive income tax rate of 10% for high-tech projects.
After Intel, other giants from Taiwan, the Republic of Korea and Japan including Bridgestone and Panasonic, have also penetrated the Vietnamese market.
This month, Samsung Electronics was licensed to build a mobile phone production plant at an estimated cost of US$3 billion, bringing the total investment capital of Samsung-invested projects in Vietnam to more than US$11 billion.