Vietnam ranks high on economic performance in region

(VOVWORLD) - The AXA Investment Managers Asia headquartered in Singapore recently published an article which elucidates the reasons behind Vietnam’s high ranking on economic performance and discusses the prospects for raising Vietnam’s position in the regional and global production ecosystem.

Vietnam ranks high on economic performance in region - ảnh 1Camera production process at Sunny Opotech Vietnam Limited Company in Yen Binh industrial zone in Thai Nguyen province (Photo: Hoang Nguyen/ VNA)

The article said integrating into ASEAN was the key to igniting Vietnam’s trade engine. It noted that Vietnam has signed free trade agreements with China, the European Union, the UK, and Japan, creating a fertile environment for trade relations to grow.

A rapid increase in manufacturing competitiveness, it said, has contributed to Vietnam’s rise as a regional export powerhouse, and Vietnam has also been very successful in attracting foreign direct investment (FDI), thanks to favorable government policies.