Vietnam confronts four economic challenges: Japanese expert
Vietnam is facing four key challenges, including the risk of becoming a country that have commercial friction with the US, early non-industrialization, not being able to participate in industrialization production chain and not really grasping the automotive industry, according to a Japanese expert.
Hanoi (VNA) - Vietnam is facing four key challenges, including the risk ofbecoming a country that have commercial friction with the US, early non-industrialization,not being able to participate in industrialization production chain and notreally grasping the automotive industry, according to a Japanese expert.
Prof. Ikebe Ryo from Senshu university of Japan said in an interview granted tothe Vietnam News Agency that Vietnam, which account for 4.5 percent of the UStrade deficit, could become a commercial friction country with the US.
Vietnamis among the six countries with large trade deficits with the US, after China,Mexico, Germany, Japan and Ireland.
Prof. Ikebe stressed that facing this risk, Vietnam needs to promote industriesthat require specialized technical human resources and new investment capitalflows.
Regarding the participation in industrialization production chain, Ikebe said promotingthe development of small- and medium-sized enterprises in supporting industriessuch as mold making, metal sheet manufacturing, coating, and metal surfacetreatment is extremely important, and can be said to be an urgent issue forVietnam.
On capturing the automotive industry - one of the key areas ofindustrialization, Ikebe said the automobile industry in Vietnam was in theinitial stage.-VNA
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Illustrative image (Source: VNA) 
