For Vietnam, in recent years, the undertaking of global manufacturing has made Vietnam a "pearl of Southeast Asia", making Vietnam's economy develop rapidly, and more importantly, Vietnam has seized a wave of "financial luck" by taking advantage of the opportunity of foreign capital to move out of China. Recently, Nvidia, as an AI chip giant, has also invested heavily in Vietnam to support the establishment of an artificial intelligence industry in Vietnam, and even Nvidia founder Jensen Huang also said: "We regard Vietnam as Nvidia's second hometown."
According to the data released by the Vietnam Investment Association, in the past three years, Vietnam has attracted Foxconn, Microsoft, Samsung, Hynix, Panasonic, BYD, Luxshare Precision, Nvidia and other multinational giants, especially in the field of new energy, European and American auto giants have transferred production to Vietnam, making Vietnam a "rising star of new energy". More importantly,Recently, Vietnam announced that more than 100 Taiwanese companies will be allowed to settle in, and each Taiwanese company will invest more than 40 million yuan, which will earn 40 billion yuan of investment and tens of thousands of jobs.
At this time, Vietnam is very similar to China 20 years ago, 20 years ago, China seized a wave of opportunities, making China "prosperous" and becoming the world's second largest economy. So much so that many people are also curious, is the "national fortune" belonging to Vietnam also coming? You must know that in 2012, Vietnam's total import and export volume was only 228.7 billion US dollars, but ten years later, Vietnam's total import and export volume exceeded 700 billion US dollars in 2022, equivalent to one-eighth of China's total import and export volume in 2022.
Of course, the main reason why Vietnam is favored by foreign investment is that China's labor costs are rising, land costs are increasing, and low-end manufacturing does not meet China's needs. With low-cost labor and land, Vietnam has undertaken a lot of manufacturing from China, which is for foreign capital, coming to Vietnam to reduce costs is to ensure profits, and naturally Vietnam will become the new darling of the manufacturing industry. Perhaps in the eyes of many people, will Vietnam's absorption of such a manufacturing industry have an impact on China?
In fact, objectively speaking, foreign capital has built factories in Vietnam, which has a certain impact on China's manufacturing industry, but this is the inevitable result of China's manufacturing industry, and the same is true for Japan and South Korea, China cannot always hold low-end manufacturing and earn cheap profits, so since we want to do high-end manufacturing, only the added value of science and technology is higher, and the people will have more money in their hands.
Of course, Vietnam's "national fortune" is popular, and we should not be presumptuous, China's market and potential are still attracting the world's multinational enterprises, because in terms of cost performance, no one can compare with China.