Vietnam's strengths lie in its stable political environment, abundant and skilled labour force, and competitive labour costs. (Photo: VNA)

Ivan Alver, Co-chairman of GMAP, said he believes that Vietnam's strengths lie in its stable political environment, abundant and skilled labour force, and competitive labour costs. As a result, multinationals are choosing the Southeast Asian country as a destination to implement their supply chain diversification strategies.

In addition to the prospect of becoming a manufacturing hub in the region, Vietnam also promises to be a consumer market with an increasing middle-class population. European and American investors will have to invest more to penetrate this market, said Alver.

Sam Yoshida, CEO of RECOF Vietnam, stated that global economic fluctuations are directly impacting Japanese investors, hence a need to invest to seek profits in attractive markets like Vietnam.

According to the official, Vietnam’s sectors related to consumers will continue to attract M&A opportunities from foreign investors, such as FMCG, retail, food manufacturing and processing, logistics - warehouses, and finance - fintech.

Alver highlighted Vietnam’s great potential in the semiconductor industry, given the sector’s specificity and the nation’s favourable conditions resulting from recent agreements signed with the US.

Arnaud Ginolin, deputy general director of Boston Consulting Group Vietnam, shared that although electronic manufacturing companies in Vietnam mainly focus on outsourcing activities, the country, with its current advantages, can certainly rise in the value chain of the semiconductor industry./.