Swiss daily: Vietnam becomes a new destination for foreign companies
Geneva (VNA) – Swiss daily Tribune de Gèneve has
recently published an article hailing Vietnam as a new destination for foreign
companies.
The article said Vietnam recorded the strongest economic
growth in Asia in 2022 following a period of closure due to the COVID-19 pandemic.
Switzerland is well-positioned to leverage advantages brought about by the
Vietnamese economy. Two-way trade between Switzerland and Vietnam hit about 3.2
billion USD in 2020.
Hundreds of Swiss companies have been among the most
important European investors present in Vietnam. In particular, the Swiss
industrial equipment sector should fully tap the growing trend of "Made in
Vietnam" products.
According to the article, the industrial boom in Vietnam could
be clearly felt when entering the Van Trung Industrial Park, which is an hour's
drive to the north of Hanoi. Early in the morning, many people were lining up
in front of recruitment office of Foxconn - the most famous subcontractor for
Apple. In front of a large dormitory for workers, there is also a large poster
with a notice that Foxconn is recruiting 10,000 employees with favourable
working conditions.
Foxconn is not the only factory hiring a large number of
workers. Not far away, LuxShare, a competitor, is announcing that it will
recruit 13,000 new employees. An automobile supplier is seeking 700
eligible positions while a solar panel manufacturer is announcing the
recruitment of 6,000 positions.
Large industrial zones are
being built and taken over by advanced electronics manufacturers, said the
article.
The Republic of Korea's electronics conglomerate Samsung inaugurated a brand new
research and development centre in Hanoi in December 2022. It also plans to
invest around 3.2 billion USD to produce semiconductors in a neighbouring
province. The US’s semiconductor equipment company Amkor Technology will soon
open a factory near the airport. And Pegatron of Taiwan (China) that produces
components for electric carmaker Tesla and assembles iPhones, has recently begun
operations near Ha Long Bay.
The article attributed Vietnam's above-said attraction to various factors such as a stable investment environment, 15
free trade agreements, including one signed in 2020 with the European Union
(EU), helping Vietnam become a hub of industrial production at affordable
costs.
Vietnam is being rated by foreign
investors as a top priority for investment. Therefore, the country will continue to
witness the emergence of super factories in the future, it concluded./.