Vietnam drawing manufacturing, foodservice investment away from China

Published on
November 14, 2022
A Jumbo Seafood restaurant in Vietnam.

An influx of manufacturing – prompted by companies seeking to diversify supply chains away from China – has made Vietnam the fastest-growing economy in the region.

French investment bank Natixis has projected economic growth of 7.5 percent in 2022 for Vietnam, which it described as “the economic rockstar of Asia in 2022, if not the world,” with accelerating growth “thanks to robust retail sales, exports, and investment.”

“Its policy of investing in infrastructure, from transport to energy, to be more competitive for manufacturing, has paid off,” noted a recent Natixis research paper. “Along with relatively cheap wages, Vietnam’s improving hard infrastructure, along with its aggressive trade liberalization policy, from the Vietnam-E.U. free-trade agreement to regional trade pacts, have made it the ... "

Photo courtesy of Jumbo Seafood

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