The nation has earned its status as a global production factory, although there are fears that it will remain an assembly platform in the future, according to a piece published by Japanese news service Nikkei Asia.

Vietnam has successfully transformed into a manufacturing-oriented economy,
supported by stronger global value chain (GVC) participation thanks to a rise in foreign direct investment (FDI), especially in the manufacturing industry.

Multinationals corporations and foreign-invested enterprises increasingly focus on sustainability in their cooperation with local suppliers, 

As the global production network has been seriously disrupted, now is the time for Vietnam to reposition itself in the supply chain.

Vietnam holds a number of advantages against other countries at a time when investors are looking to exit China, according to experts.

Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Finance (MoF) to look at taxes and fees related to automobile manufacturing and assembly in order to help the sector grow.

Vietnamese businesses are further participating in the global value chain and reaching out to the world market.