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Thai media spotlights Vietnam's role in global supply chain

Thai media on December 11 posted an article highlighting Vietnam's role in a global supply chain that has been undergoing a significant transformation, marked by its increasing importance as a manufacturing hub and a source of high-demand exports.
Thai media spotlights Vietnam's role in global supply chain ảnh 1A production line of a Japanese-invested firm at the Quang Minh industrial park in Hanoi (Photo:VNA)

Bangkok (VNA) – Thai media on December 11 posted an article highlighting Vietnam's role in a global supply chain that has been undergoing a significant transformation, marked by its increasing importance as a manufacturing hub and a source of high-demand exports.

According to the article, published on nationthailand.com,an English-language news website, Vietnam hasattracted more than 25 billion USD in foreign direct investment (FDI) since thebeginning of this year.

Pledges from China were the highest at 8.2 billion USDin the first 11 months, twice as much as in the same period last year. Industryexperts say the increasing FDI growth is propelling Vietnam up thevalue chain, it said.

The article cited FionNg, chief operating officer at BW Industrial, as saying that the company sees a strongsurge in leasing inquiries by more than 75% year on year. More than 40%of Vietnam's total exports are made up of high-tech relatedgoods.

This is also reflected in tenants'profile of BW Industrial, where more than 40% of its factory space taken out bytenants are from high-tech and electronics-related industries.

Lower labour cost and greaterconnectivity have made Vietnam extremely attractive to globalcompanies, according to the article.

By the end of July, Vietnam had signed16 free trade agreements with major economic partners and is also part ofthe Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CTPPP) andthe Regional Comprehensive Economic Partnership (RCEP)./.

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