Reasons for Vietnam's economic take-off

The reason for the economic take-off in this region is the rise of manufacturing and export-oriented economy.

1, the rise of manufacturing industry: Vietnam has made full use of its labor cost advantage and attracted a lot of foreign investment in manufacturing industry. With the adjustment and reorganization of the global industrial chain, many multinational companies choose to establish production bases in Vietnam to take advantage of its lower production costs and better supply chain conditions. The rapid development of manufacturing industry has brought great impetus to Vietnamese economy.

2. Export-oriented economy: Vietnam actively implements the export-oriented strategy and promotes economic growth by expanding exports. Its export products cover textiles, electronic products, footwear and other fields, and its export market is diversified, including the United States, Europe and other countries and regions. The growth of exports has brought dual effects of foreign exchange income and economic growth to Vietnam.