Philippines media praises Vietnam’s industrial development

The website has published an article titled Vietnam is Southeast Asia's new industrial powerhouse, saying Vietnam has transformed itself from an agricultural economy to one of the brightest manufacturing hotspots in the region over the last 20 years

The article quotes a report by Jones Lang LaSalle (JLL), a US financial consultancy group that says Vietnam is establishing itself as the industrial powerhouse of Southeast Asia. The group predicted that Vietnam's industrial market will move up the value chain in the near future, going from labor intensive to capital intensive.

The article quoted predictions that Vietnam's logistics sector will be a standout performer over the next 5 to 10 years, but said Vietnam must continue to invest in infrastructure such as highway networks and deep-sea ports to enter the next phase of the industrial and logistics cycle and become more competitive than its neighbors.

Source: VOV5