Workers at an electronic spare part manufacturing plant in Vietnam (Illustrative image. Source: VNA)
Hanoi (VNA) – France’s Le Temps newspaperon July 19 ran an article describing Vietnam as a new factory of the world.
According to the article, low wages, tax incentivesand free trade agreements have facilitated Vietnam’s exports to foreignmarkets.
It highlighted the spectacular growth of industrialparks in Vietnam, but noted that the dependence on export and foreign directinvestment (FDI) would make the country vulnerable to trade disputes betweenthe US and other trade partners such as China and the European Union.
Meanwhile, the UK’s Inquirer.netalso reported that Vietnam has switched from being an agricultural economy toone of the brightest manufacturing hotspots in Southeast Asia, citing thelatest report from Jones Lang LaSalle, one of the world's leading real estateservices firms.
It quoted the report assaying that “This phenomenal growth can be attributed to Vietnam establishingitself as an export-driven economy, dedicated industrial and economic zones,numerous free trade agreements, strong economic growth and a young, plentiful,low-cost workforce.”
All these initiativeshave led to significant investment by large foreign companies.
The best case studyis Samsung, which has reportedly invested over 17 billion USD in Vietnam.
This has provided confidence to many other foreigncompanies from around the globe to set up operations in the country.
According toInquirer.net, one of the challenges for Vietnam over the next few years will bethe ability to adapt and embrace the inevitable disruption and changes broughtabout by technology and automation, now commonly known as industry 4.0.
In order for Vietnamto enter the next phase of the industrial/logistics cycle and become morecompetitive than other countries in the neighborhood, it is criticallyimportant that significant expenditure continues on infrastructure, includinghighway networks, deep-sea ports and upgrade of utilities, including renewableenergy.-VNA
The Vietnamese economy continued to enjoy growth in the second quarter of 2018, following an impressive growth impetus in the first three months of this year, according to the Department of Planning under the Ministry of Industry and Trade.
Vietnam ranks 45th out of 126 economies in the Global Innovation Index (GII) 2018, up 14 places compared to 2016, according to the GII report announced by the World Intellectual Property Organisation (WIPO) on July 10.
Vietnam’s economy maintained impressive growth in the second quarter this year, according to a macroeconomic report released by the Vietnam Institute for Economic and Policy Research (VEPR) in Hanoi on July 11.
Vietnam recorded the greatest ranking improvement on the Global Innovation Index 2018 (GII) thanks to the country’s efforts to deploy synchronous measures to improve its business environment, national competitiveness, and innovative capacity.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
Talking to the Vietnam News Agency on the occasion of the 100th anniversary of the Vietnam’s Revolutionary Press Day (June 21, 1925–2025), Nikulina, who is also a veteran journalist of Russia’s Sputnik News, emphasised the vital role of mainstream journalism in defending the truth and maintaining public trust.
The Ministry of Commerce reported that imports also rose 18% to 29.9 billion USD during the same period, resulting in a trade surplus of 1.1 billion USD. In May alone, Thailand posted a 4.6 billion USD trade surplus with the US and a 4.1 billion USD trade deficit with China.
The World Bank will provide a 2.1 billion USD financing package for Indonesia, focusing oncreating jobs, stimulating economic growth, and enhancing access to clean energy across the country.
Workers at an electronic spare part manufacturing plant in Vietnam (Illustrative image. Source: VNA) 
