A fast-growing economy enhanced by value-adding products
Considered by many as a development success story, Vietnam was able to transform from being one of the world’s underdeveloped nations into a lower middle income country within a quarter of a century. Today, a vibrant manufacturing sector continues to be Vietnam’s engine of economic growth, yielding export values that can rival those of the more established economies in the region. In recent years - in addition to traditional manufacturing industries such as garments, footwear, and furniture making - the manufacturers of high-tech and high-value products have also recorded positive growth.
Providing invaluable support to such activities in Vietnam is the country’s chemical industrial sector with an annual growth rate of 12%, it is one of the key economic sectors prioritized to fulfill the needs of other industries and the country’s overall socioeconomic development strategy.