Therefore, in order to improve rankings in ASEAN, it is certain that Vietnamese enterprises must "go faster". However, that does not mean that businesses need to be afraid because Việt Nam has a number of opportunities. Each year, Việt Nam exports nearly US$30 billion of textile products and nearly $70 billion of electronic products and components, but supporting industries in these two sectors have not yet developed strongly. Regarding supplying parts to the automotive industry, Việt Nam has less than 100 first tier suppliers while Thailand has nearly 700. Automotive components currently produced in Việt Nam are mainly simple parts, such as seats, glass, tires and tubes.
Source: Viet Nam News February 05, 2019 03:56 UTC