Thai Media Evaluates Vietnam's Growing Role in the Global Supply Chain

According to an article on nationthailand.com, since the beginning of 2023, Vietnam has attracted more than USD 25 billion in foreign direct investment (FDI). FDI capital from China was highest at USD 8.2 billion in the first 11 months of the year, double the same period last year. Industry experts say that the increasing FDI growth rate is further strengthening Vietnam's role in the value chain.

Automatic packaging line for animal feed products at CP Vietnam Livestock JSC, Binh Duong branch (Thai investment) in My Phuoc III industrial park. (Photo: VNA)

The article quoted Fion Ng, CEO of BW Industrial, saying that this company saw a 75% increase in rental demand compared to the same period last year. More than 40% of Vietnam's total exports are high-tech related goods. This is similarly reflected in BW Industrial's tenant profile, where more than 40% of the company's truly large factory spaces are occupied by companies in the high-tech and electronic-related industries.

The article emphasizes that lower labor costs and better connectivity have made Vietnam extremely attractive to global companies. By the end of July 2023, Vietnam had signed 16 free trade agreements (FTAs) with all major economic partners and was also a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP).

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