Part 6/11:
Since the 1990s, Vietnam's manufacturing sector has evolved dramatically. Initially focused on low-cost textile and garment production, the industry underwent a significant transition to high-tech sectors, with major investments from companies like Intel and Foxconn. Notably, by 2023, Vietnam had emerged as the world’s second-largest exporter of smartphones, trailing only behind China.
While Vietnam continues to experience robust growth—with annual GDP rates hitting 6-7%—it still encounters considerable challenges, especially in comparison to its regional counterparts, such as China and the Asian Tigers. Though Vietnam's economic ascent poses parallels with China's trajectory during its rise, the country grapples with substantial infrastructure deficits.