UK newspaper spotlights Vietnam’s emergence in global supply chain
Multinationals are looking to set up their bases in Vietnam despite various challenges that the country poses as a manufacturing destination, according to the Financial Times in the UK.
Hanoi (VNA) – Multinationalsare looking to set up their bases in Vietnam despite various challengesthat the country poses as a manufacturing destination, according to theFinancial Times in the UK.
The newspaper cited Michael Kokalari, chiefeconomist of VinaCapital in Ho Chi Minh City, as saying that more and more foreigncompanies are moving their production activities to Vietnam, and one prominentexample is Apple, which began mass production of some of its AirPods wirelessearbuds in Vietnam in the second quarter of this year when most of the worldwas in lockdown to contain the spread of COVID-19.
According to Financial Times, Vietnam’s labour markets are not as deep asChina’s. Industrial park space is in brisk demand, especially around HCM City,where the bulk of Vietnam’s clothing, furniture and other exporters are based.
The city’s Tan Son Nhat International Airport has long operated at well overcapacity. Meanwhile, Long Thanh airport is being built, but it is scheduled tobe ready only in 2025. Many of the components used to manufacturehigh-value products in Vietnam, from microchips to smartphones, are stillsourced from China, the Republic of Korea, Taiwan or elsewhere.
The newspaper, however, noted businesspeople say the Vietnamese market isadjusting to all these difficulties, even amid the pandemic. Many projects toconstruct industrial parks are on their way. For example, GLP, Asia’s biggestwarehouse operator, is developing projects in Hanoi and HCM City, and plans toinvest 1.5 billion USD over three years as it promotes its business in Vietnam.
The Financial Times also took note of Vietnam’s big numbers which remain robust,pointing out that despite the pandemic, foreign direct investment disbursementsare down only 2 percent to 17.2 billion USD in the year to November.
The Vietnamese economy is on track to grow by 2.4 percent this year, becomingone of the fastest growing economies in the worlds. The Vietnamese Governmentis targeting growth of 6.5 percent next year./.
A number of regional and global news agencies have quoted data from international research institutes and organisations as saying that Vietnam’s economy is on track to grow despite the impact of COVID-19.
Vietnam has maintained its position as the world’s largest producer and exporter of cashew nuts in 2020, exporting an estimated 450,000 tonnes of cashew kernels worth 3.2 billion USD, according to the Vietnam Cashew Association (Vinacas).
The Ministry of Planning and Investment and the US Agency for International Development (USAID) co-organised a launch ceremony for the “Supporting Enterprises’ Digital Transformation from 2021 to 2025” programme on December 3 in Hanoi.
A plenary meeting of the International Support Group (ISG), themed “Vietnam agriculture and rural development in the context of COVID-19: Opportunities and Challenges”, took place in Hanoi on December 11.
The Vietnamese stock market has flourished amid global uncertainties due to the COVID-19 pandemic, said Tran Van Dung, Chairman of the State Securities Commission (SSC).
The new Government decree also simplifies loan procedures while expanding credit incentives to include organic and circular agriculture, allowing them to access preferential terms similar to those of high-tech and value-chain based agricultural production.
Developed with state-of-the-art infrastructure, the Da Nang FTZ is designed to become a leading regional economic centre and a strategic growth pole in Vietnam’s new development landscape.
The Binh Duong Association of Supporting Industries (BASI) is expected to promote the usage of domestically manufactured components while supporting businesses in accessing international markets, strengthening linkages, and promoting deeper integration into global supply chains.
PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
(Photo: VNA) 
