Vietnam's exports are very strong, but the strong ones are foreign-funded enterprises! Why is it difficult for local enterprises to turn over?

Vietnam's export trade does have very good data, which looks very strong, but careful observation will reveal that foreign-funded enterprises in Vietnam are really strong, while few local enterprises in Vietnam can become stronger and bigger. This situation in Vietnam is largely due to Vietnam's efforts to support foreign-funded enterprises in order to increase the scale of exports. The entry of a large number of foreign-funded enterprises has brought great pressure to local enterprises. Moreover, the core technology of local enterprises can not be compared with that of foreign-funded enterprises, and their competitiveness is very weak.

As we all know, local enterprises in China are transforming from traditional manufacturing to creative industries. Viet Nam was eager to take over the baton of China World Factory. Vietnam's export scale is indeed very considerable, and it seems that there are also very prosperous economic phenomena, but it is foreign-funded enterprises that really grasp the lifeline of Vietnam's economy. Vietnam can be favored by foreign-funded enterprises, on the one hand, it has a superior geographical position, on the other hand, foreign-funded enterprises value local cheap labor.

Many manufacturing plans in Vietnam are similar to those in China, but the biggest difference is that Vietnam's heavy industry foundation has not been laid at all. Without a foundation, foreign-funded enterprises are allowed to enter at will, which directly leads to Vietnam becoming a money-making tool for powerful foreign investment. It is understood that the cheap labor force in Vietnam seems to have changed, and the wage requirements of some workers are not low. Vietnam's policy towards foreign-funded enterprises is very loose. Although this can accelerate the expansion of manufacturing scale, it has caused a huge burden to local enterprises.

The reason why Vietnamese local enterprises can't make a difference is that under the pressure of foreign-funded enterprises, their competitive advantage is almost negligible. On the other hand, Vietnam's infrastructure work is very inadequate, and it unilaterally pursues high-efficiency opening of the manufacturing market, but some core technologies are in the hands of foreign-funded enterprises. Although it seems prosperous, the economic situation in Vietnam is really not optimistic.