Vietnam should develop high quality human resources to capitalise on a large influx of industrial investment in the near future, according to Thai daily KomChadLuek.
From a low-cost commodity producer, the country is emerging as a high-tech industrial product manufacturer, bringing a constant and stable source of income to the nation, said the newspaper in its recent edition.
The daily reported that low labour cost is Vietnam’s key comparative advantage against other countries in the region, especially China, in attracting foreign investment.
It made a comparison of the labour cost in both Vietnam and China, revealing that on average a Chinese worker earns US$300/month, double the figure in Vietnam.
This is why foreign electronics and information technology giants such as Intel, Samsung and Nokia have decided to invest in this Southeast Asian economy, said KomChadLuek.
Recently, Expo Power, an electronics component producer from the UK, has poured its investment into Vietnam instead of China. It has built a new plant in Binh Duong province – a gateway to Ho Chi Minh City which is a big industrial centre of Vietnam.
Vietnam has the chance to become a leading foreign investment destination in the Southeast Asian region if it makes full use of its comparative advantage, the daily concluded.