Vietnam’s economy has shown resilience this year as investment pours in, with Prime Minister Pham Minh Chinh vowing to cut logistical costs and improve infrastructure. The government has sought to pull in capital from foreign tech giants such as Samsung Electronics and Intel as the country emerges as a viable alternative to China in the production of electronics such as smartphones to basic semiconductors.
Vietnam’s economic growth unexpectedly accelerated last quarter, buoyed by manufacturing and exports before a super typhoon in September caused widespread damage and prompted warnings of a challenging end to the year.
Gross domestic product rose 7.4% in the three months ended September from a year earlier, the General Statistics Office said Sunday. That compares to a 6.1% median estimate in a Bloomberg survey and a revised 7.09% expansion for the second quarter.
