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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 19 May 2014 [View all]xchrom
(108,903 posts)23. Foreign manufacturers maintain faith in Vietnam despite riots
http://uk.reuters.com/article/2014/05/19/uk-vietnam-business-idUKKBN0DZ10T20140519
(Reuters) - Most large companies operating in industrial parks hit by anti-China riots in Vietnam last week have resumed operations, underscoring the irresistible pull of the country as a low-cost manufacturing hub with a relatively skilled workforce.
Manufacturing has increasingly shifted away from China in recent years as wages there are climbing and there is a growing shortage of labour. The speed with which companies have returned to work in Vietnam's industrial parks, which were the focus of rioting just last week, demonstrates the economic draw of doing business in the country, despite the risks.
The riots, which erupted after protests over disputed territory in the South China Sea, had sparked speculation that foreign investors could flee the country, but most say they have no plans to do so.
Vietnam has about 200 industrial parks and they have been a major driver of the country's economic growth, accounting for more than 30 percent of exports and attracting around $110 billion (65 billion pounds) in foreign direct investment.
(Reuters) - Most large companies operating in industrial parks hit by anti-China riots in Vietnam last week have resumed operations, underscoring the irresistible pull of the country as a low-cost manufacturing hub with a relatively skilled workforce.
Manufacturing has increasingly shifted away from China in recent years as wages there are climbing and there is a growing shortage of labour. The speed with which companies have returned to work in Vietnam's industrial parks, which were the focus of rioting just last week, demonstrates the economic draw of doing business in the country, despite the risks.
The riots, which erupted after protests over disputed territory in the South China Sea, had sparked speculation that foreign investors could flee the country, but most say they have no plans to do so.
Vietnam has about 200 industrial parks and they have been a major driver of the country's economic growth, accounting for more than 30 percent of exports and attracting around $110 billion (65 billion pounds) in foreign direct investment.
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