Vietnam’s electronics and automobile component industries have become central players in the global supply chain. With an average Vietnamese labor cost of $2.99 USD per hour, lower than $6.5 USD per hour in China, manufacturers are moving to Vietnam to lower costs and reduce exposure to geopolitical risks..
South Korea, Japan, and Singapore are the top three foreign investors in Vietnam. The recent Regional Comprehensive Economic Partnership (RCEP) is expected to increase regional trade between Vietnam and the other RCEP countries.
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