In the past few years, Vietnam’s economy has made great efforts to attract global companies to invest in and build factories through the development of manufacturing. However, the American media CNBC recently quoted Bain & Company Vice President Gerry Mattios as saying that global manufacturing factory facilities will become more dispersed. In Southeast Asia, people often only see some assembly lines, but not all. In other words, Mattios believes that Vietnam, located in Southeast Asia, cannot become a true world factory. As expected, things have indeed made the latest progress.
Vladimir Mazling, director of the Vietnam and ASEAN Research Center of the Institute of Far Eastern Studies of the Russian Academy of Sciences, told the Russian Satellite News Agency not long ago that the added value of the goods produced by Vietnamese companies is not large, and nearly 80% of the raw materials in light industrial products are produced in Products purchased from foreign markets are highly dependent on foreign markets, which will pose a threat to Vietnam’s manufacturing and economy. For example, in Vietnam, currently we are not self-sufficient in the production of non-woven fabrics for masks and are highly dependent on imports.
At the same time, Vietnam’s infrastructure is weak, especially in external transportation and port transportation capabilities. For example, Vietnam’s largest port, Ho Chi Minh City, can only handle 6.15 million containers. This is a far cry from some well-known container ports around the world. For another example, currently, electricity energy is relatively limited in Vietnam. Earlier, Vietnamese households and businesses were required to reduce electricity consumption, including turning off advertising lights at night. These phenomena have also become gaps in Vietnam’s economic development of manufacturing.
Although Vietnam’s economy has benefited from cheap labor in the past few years, according to Vietnamese media VNexpress , Vietnam has a population of approximately 98 million, and young adults aged 15-45 account for 55% of the total population. Obviously, this population base is far from the huge manufacturing production capacity. In other words, Vietnam’s manufacturing industry’s ability to accept orders is very limited.
In addition, the current global manufacturing industry and many fields are in the process of iterating to new technologies, while Vietnam’s manufacturing industry has always stagnated and is even replicating. production model forty years ago. In this regard, Vietnam’s Minister of Planning and Investment stated two weeks ago that if Vietnam’s manufacturing industry cannot catch up with the Industry 4.0 train, the real gap between Vietnam’s manufacturing industry and other markets will become wider and wider.
Nikkei Asian Review recently reported that Vietnam’s consumer confidence index has dropped to its lowest level in 20 years. Analysts believe that this is because Vietnam’s economy does not have the ability to cope with risks. The vulnerable side. This makes it possible that Vietnam’s economy will continue to suffer from the withdrawal of US dollar capital against the background of clear expectations of the Federal Reserve’s balance sheet reduction. In other words, it may continue to be sheared. The Vietnamese economy may even return to its original shape due to a series of fragile performances.
As investment manager Patricia Perez-Coutts once said, “The Federal Reserve’s monetary measures have always targeted fragile economies, just like a herd of wild wildebeests crossing a river. The lions will prey on the young and weak…and the rest of the herd will move on.” (End)
</p
