With proclaimed success of containing coronavirus in Vietnam, the nation is back on its feet and planning to transform supply chains to other areas, including Southeast Asia, without its reliance on China.
With 288 positive cases and zero deaths, Vietnam dealt with Covid-19 well and now this southeast nation is reviving its economy and expecting more foreign investments. To fast track the process Kizuna Joint Development Corp, a company building ready-to-go factories, is planning on to finish a one million square foot factory in southern Vietnam.
The planning and investment industry of Vietnam said that the country can help manufacturers looking for new production bases.
The country’s efforts to successfully contain the virus was largely due to the centralized quarantined approach and targeted testing. While majority of countries are reeling from a deep recession, Vietnam is expecting an annual GDP growth of above 5% this year.
Recognized as a hub for foreign direct investment, Vietnam is now aiming higher on the investor radar boosting the confidence of many foreign investors in the nation.