Multinationals

The Ministry of Industry and Trade (MoIT) has said this year it will closely coordinate with several foreign multinationals like Samsung and Toyota to connect with local suppliers of materials and accessories, in an effort to seek alternative supply for imports in both short and long terms.

Some local Vietnamese companies are fighting back against the encroachment of international brands, said experts at a recent seminar in Hanoi, but are not faring well in the battle.

A growing middle income class increasing regional integration in tandem with solid economic growth over the past few years are some of the reasons multinationals are viewing ASEAN with a renewed sense of optimism said the Business Times