Viet Nam has topped the Growth Index (GI) of emerging countries in the manufacturing industry, announced by Cushman & Wakefield (C&W), an international commercial real estate service firm.
The Growth Index has shown Viet Nam’s advantages in expenditures, said Alex Crane, General Manager of Cushman & Wakefield Viet Nam, adding that the growth rate of retail sales in the nation has brought opportunities for retailers.
Viet Nam has gained benefit from rising production cost in China, with foreign investment in the country’s manufacturing industry in 2014 doubling the 2012 figure, reaching US$11 billion, equivalent to 71% of the registered foreign direct investment (FDI) capital.
The Trans-Pacific Partnership (TPP) is expected not only to increase competitiveness with duty reductions, but also to introduce criteria that will help improve evaluation of a supply chain and create a better framework for issues such as intellectual property and human resources, thereby increasing Viet Nam’s attractiveness, he added.