China Trade - Highlight
13 April 2017
Amid inflow of foreign investment, Vietnam is now targeting investment from higher value-added industries, with potential investors advised to look beyond labour cost advantages. But there are concerns as to the lack of engineering expertise and ancillary industries within the country, a particular challenge for any business undertaking more sophisticated production with higher degree of automation.
Vietnam’s processing production sector has prospered on the back of its markedly young labour force. But a shortage of skilled workers, production engineers and precision tool makers, etc., has started to restrict further industrial development. Hong Kong is home to a number of experienced industrial players. Its experienced companies are in an excellent position to tap into Vietnam’s growing need for a variety of production services.
With some 116 live-streaming operators now serving the mainland market, official moves are being made to regulate content, while ensuring that tax obligations are correctly assessed for the growing number of online celebrity hosts.