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Vietnam’s economy is heavily dependent on low-value-added assembly. Only about 35–40% of Vietnam’s electronics exports are produced domestically, compared to 55–60% in China and over 70% in South Korea. If Vietnam continues to play only an assembly role in global supply chains, escaping the middle-income trap will be tough.
Aware of this, the government recently initiated a series of reforms promoting the private sector, technological dynamism, legal reform, and deeper global integration.
In this article in Vietnam Net, Dalberg Partner Chris Malone argues that double-engine growth can be achieved by building regional economic clusters—ecosystems linking suppliers, service providers, skilled labor, specialized training institutions, and research centers.
Read the complete article in Vietnamese or a related thought leadership piece in English.
