Global Supply Chains

Vietnam is a prime candidate for the ongoing shift of value chains in Asia, said a senior executive of the French Business Confederation (MEDEF) International.

Hanoi currently has 121 key industrial products that helped generate revenue of VND100 trillion (US$4.3 billion) for local firms during the 2018 – 2020 period.

The disruption of supply chains as a result of the Covid-19 pandemic is a major concern, as all ASEAN members are export-oriented, said Vietnam’s Trade Minister Tran Tuan Anh.

The ASEAN business community could be a “safe haven” as some major multilateral institutions are under pressure to reform, said Prime Minister Nguyen Xuan Phuc.

South Korean firms operating in Vietnam are the best example of the strong Vietnam – South Korea relations, according to the Vietnamese prime minister.