Vietnam Industrial Competitiveness Report 2011

The Vietnamese Ministry of Industry and Trade and the United Nations Industrial Development Organisation (UNIDO) just released the Vietnam Industrial Competitiveness Report 2011 (VICR). Vietnam’s industrial competitiveness is ranked 58^th among 118 countries in 2009, a leap of 14 notches in the last four years, outperforming many strong competitors with a long history of industrialisation such as Egypt, Morocco and Russia.

 

The country’s manufacturing value added (MVA) also saw a sharp increase from US$5.8 billion in 2000 to US$15.4 billion in 2009 because of strong connectivity of industrialisation and economic development. The report highlighted the growth of manufacturing was the core of Vietnam's economic strength over the past 20 years and manufacturing would continue to play a major role in the future if Vietnam was to sustain high growth rates.

 

The report presented recommendations for the Vietnamese Government, including reformulation of industrial strategies and policies, industrial diversification into high value-added products, human resources development for manufacturing, technology development and targeting quality FDI for manufacturing.