Vietnam emerges as strategic player in global economy

16:44 | 25/12/2024 Economy Follow Ven.vn on

The website sourceofasia.com has recently published an article, highlighting that Vietnam has emerged as a crucial player in the global economy due to balancing its dual trade partnerships with superpowers like the US and China.

Vietnam emerges as strategic player in global economy

The newswire outlined that this delicate act has allowed Vietnam to safeguard its economic interests, while promoting growth opportunities in key industries, especially technology.

A notable milestone is NVIDIA’s recent acquisition of VinBrain, featuring Vietnam’s burgeoning tech sector and its pivotal role in global innovation.

This acquisition not only underscores the potential of Vietnamese tech startups but also places Vietnam firmly on the global tech map.

According to TechCrunch, VinBrain’s AI solutions in medical imaging align with NVIDIA’s vision of advancing AI in healthcare, making this deal a win-win for both parties.

This development reflects the government’s commitment to fostering a thriving tech ecosystem. In addition, policies such as tax incentives for tech companies and investment in digital infrastructure have attracted major players like NVIDIA to explore Vietnam as a tech hub.

The article also outlined that Vietnam’s geographical location and competitive manufacturing landscape have positioned it as a natural alternative to China for global businesses seeking to diversify their supply chains.

This shift is particularly benefitted Vietnam's electronics and apparel industries. For example, Vietnam’s exports to the US grew by more than 25% in 2023, underscoring the country’s strategic advantage in absorbing supply chain disruptions.

Simultaneously, the nation maintains robust trade relations with China, ensuring a steady supply of raw materials and intermediate goods essential for manufacturing.

The article stated that Vietnam’s ability to maintain strong trade ties with both the US and China, while enhancing its domestic industries position it as a crucial player in the global economy.

The rise of the tech sector, bolstered by landmark deals like NVIDIA’s acquisition of VinBrain, further cement Vietnam’s role as an innovation hub in Southeast Asia.

In particular, for businesses and investors, Vietnam offers a unique blend of challenges and opportunities in an ever-evolving geopolitical landscape.

Source: VOV

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