Foreign media hails Vietnam’s growth

(VOVWORLD) - In an article entitled “Vietnam, new factory of the world," French newspaper Le Temps says low salaries and tax rebates encourage foreign investment and several free trade agreements facilitates exports of goods produced in Vietnam.

Meanwhile, UK’s in a recent report says Vietnam has switched from being an agricultural economy to one of the brightest manufacturing hotspots in Southeast Asia in the last 20 years. This phenomenal growth can be attributed to Vietnam establishing itself as an export-driven economy, dedicated industrial and economic zones, numerous free trade agreements, strong economic growth and a young, plentiful, low-cost workforce.

Both articles say  one of the challenges for Vietnam over the next few years will be the ability to adapt and embrace the inevitable disruption and changes brought about by technology and automation, now commonly known as Industry 4.0. They add it is important for Vietnam to continue investment on infrastructure, helping exporters and manufacturers lower costs.  

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