Update news trade tensions
With COVID-19 and trade tensions driving the shift of production lines from China to Southeast Asia, Vietnam, in particular, seems to have emerged as an attractive destination for investors and manufacturers alike, experts have predicted.
The Vietnam Institute for Economic and Policy Research and the Konrad Adenauer Stiftung today unveiled the Fourth Quarter Update and 2019 Review - Independent Assessment of Vietnam’s Macroeconomic Performance.
Fifty-five percent of German businesses, when asked, have said they want to increase investment capital in Vietnam, higher than the rate for Southeast Asia (44 percent).
Vietnam’s wood and wooden product exports to the United States may be subject to higher import duties due to a surge in export revenues and China’s foreign direct investment in the local industry, experts said at a recent seminar in Hanoi.
The G20 group of finance ministers have said trade tensions could undermine the global economy.