West said the developing nature of Vietnam’s economy had added a huge amount of value to supply chains in the nation, particularly in manufacturing.
“Going back 10 years ago a lot of manufacturing [in Vietnam] was very much low-value add,” she said. “In the last 10 years that has significantly shifted.”
“Today, 38 per cent of Vietnam's exports are mobile phones, computers, electronics and machinery - so really high-value add.”
West said the country was “absolutely” heading in the right direction.
“It’s the velocity of change that can be somewhat challenging,” she said. “Particularly in industries like banking, for instance, which are quite regulated.”
West also touched on the history of Vietnam’s economic development. Listen to the podcast above to find out more.
Elizabeth Rudall is Head of Corporate Communications, Institutional at ANZ