Vietnam to remain at center of Asian supply chains: EIU

(VOVWORLD) - Vietnam will remain at the center of Asian supply chains and one of the most competitive manufacturing locations in the Asia-Pacific region, said analysts of the Economist Intelligence Unit in a report on Vietnam released on Wednesday.

Vietnam to remain at center of Asian supply chains: EIU - ảnh 1A production assembly of Trung Nguyen instant coffee joint stock company in Bac Giang. (Photo: Danh Lam / VNA)

The report, entitled “Rising star: Vietnam's role in Asia's shifting supply chains,” examines Vietnam’s labor market, investment attraction policy, and trade relationships.

Low-skilled manufacturing wage increases will be kept moderate relative to Vietnam’s regional competitors. However, specialized labor in manufacturing and services will remain scarce. In the field of investment, high-tech manufacturers will continue to enjoy incentives for many years to come. Vietnam’s signing of trade agreements and maintaining good relations with trading partners will reduce transaction costs for local businesses.

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