According to the article, one can see global manufacturers flocking to Vietnam. This is because investors are assured of the country’s political stability.

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Foreign investors have committed billions of dollars in Vietnam. (Photo for illustration)

“Vietnam’s low costs, investor-friendly policies, zero tolerance for corruption and state-backed efforts to promote tech start-ups also make the country appealing to investors,” it said.

Foreign investors have committed billions of dollars in Vietnam and the present per capita income of the country in some zones has increased almost fivefold since the past decade, it added.

Apple Inc has joined Samsung in consolidating Vietnam’s growing audio expertise in manufacturing its AirPod headphones as part of the company’s long-term expansion plans.

Vietnam is becoming an audio manufacturing hub as firms move away from China for sales into the U.S. market. This growth has also been driven by Samsung Electronics Co Ltd.

The article said that Singapore, Indonesia and Vietnam are politically stable, resourceful, with a pro-business government, and they offer economic incentives for businesses.

Source: VNA