(VOVWORLD) - UK-based news and foreign direct investment publication fDi Intelligence has described Vietnam as a good success story in its latest article explaining why many Asian economies effectively leverage foreign direct investment to achieve economic growth.
 A production line at a factory in Phuc Son Industrial Park, Ninh Binh province. (Photo:VNA) |
Vietnam has built investor confidence through consistent governance, transparent legal systems and pro-business reforms, the article said, adding that high-quality local infrastructure, such as special economic zones and efficient logistics networks, and human capital in the form of a skilled, low-cost workforce are important factors.
The article takes Intel as an example. Since opening its testing and assembly plant in Saigon Hi-Tech Park free zone in 2010, the US chipmaker has significantly expanded its operations in the facility through investments totalling 1.5 billion USD.
This has been fostered by Vietnam’s fast-growing semiconductor ecosystem, experienced workforce and the country’s role as a lower-cost node in global electronics supply chains.
In October, Intel’s head of Vietnam Kenneth Tse spoke with the government about bringing even more production lines into Vietnam in the foreseeable future.