The British bank pointed out that four out of 10 large international companies have businesses in Vietnam or plan to invest here in the next five to 10 years, which, evidence that this country will be an important driver of world trade in the decade.
He predicted that the United States and China will remain the largest recipients of Vietnamese products, accounting for 26 percent and 19 percent, respectively, of the Indochinese nation’s shipments.
Michele Wee, managing director of Standard Chartered in Vietnam, commented that Vietnam’s growing integration into the world economy through various free trade agreements brings it many advantages in exports and participation in value chains.
According to local experts, Vietnamese foreign trade will surpass $650 billion this year, an all-time record, and leave a surplus of $220 million.
In the first 11 months of 2021, Vietnam’s foreign sales amounted to $299.67 billion, a year-on-year rise of 17.5 percent.
Its main buyers were the United States ($84.4 billion), China ($50.5 billion), the European Union ($35.7 billion) and members of the Association of Southeast Asian Nations ($25.9 billion).