Vietnam Faces Industrial Challenges Amid Global Changes

Vietnam has experienced rapid economic growth, achieving middle-income status with a significant reduction in poverty and an increasing focus on clean industrial transformation. The country is poised to attract investments in green technologies, leveraging its abundant renewable resources and skilled workforce, although it must adapt to global decarbonization efforts. Concurrently, the global supply chain landscape is evolving due to government policies, with companies reshaping their sourcing strategies amidst escalating tariffs and trade regulations. Challenges such as labor unrest, supply chain disruptions from geopolitical conflicts, and the need for resilience are paramount as businesses navigate these complexities. As seen in the construction sector, while product availability remains stable, demand fluctuations and interest rate concerns may hinder growth in housebuilding. Overall, 2024 has highlighted the necessity for collaboration and adaptability in both local and global supply chains to address ongoing and emerging challenges.