Strength Through Diversification: Opportunities across Asia Pacific

VIETNAM

a key beneficiary of China+ manufacturing strategies due to close geographical proximity and wider regional/global connectivity. Aside from its strategic location, Vietnam remains cost-effective with significantly lower labour costs compared to China.Further benefits comes from a balanced mix of high value manufacturing such as electronics and low value manufacturing such as garments, footwear and food. High-value manufacturing is expected to grow, with the government intent on increasing manufacturing’s share of the economy from 25% to 30% by 2030 by attracting more high-value manufacturing investment. Vietnam has the room to accommodate such growth with a strong concentration of electronics production in northern Vietnam (Hanoi, Haiphong), while the southern Vietnam (Ho Chi Minh City, Binh Duong, Dong Nai) has a mix of food, consumer goods and electronics manufacturing.

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STRENGTH THROUGH DIVERSIFICATION: OPPORTUNITIES ACROSS ASIA PACIFIC