Foreign investment in Vietnam surged in October as the manufacturing hub attracted more than double the financial pledges it has received monthly this year, amid a big boost in spending for new plants, official data showed on Friday.
International media has continuously reported on the great chance Vietnam might stand to replace China as the world’s production center.
Manufacturing PMI dips as labor shortages and input costs weigh on recovery
Trade wars and the pandemic have accelerated Vietnam’s push to challenge China as the world’s factory, as the nation’s careful management of COVID-19 adds to its attraction to companies looking to dodge US tariffs.
Many textiles and footwear businesses are letting thousands of employees go as the Covid-19 pandemic cuts new orders.
Agreement to slash tariffs should boost European investment in Asia’s ‘export rock star’, but is no silver bullet for post-coronavirus recovery, experts say
Ho Chi Minh City is seeking the Vietnam premier’s approval to temporarily shut down a unit of Pou Chen Corp., the world’s largest maker of athletic shoes, because of concerns about a potential outbreak of the coronavirus.