Morning commuters walk past the Luxshare Precision Industry Co factory at the Van Trung Industrial Park in Viet Yen district, Bac Giang province, Vietnam. Not long ago Bac Giang province was one of the Vietnam's poorest regions, now officials in the rural area north of Hanoi host representatives from Apple Inc and Hon Hai Precision Industry Co. — Bloomberg
Not long ago Vietnam’s Bac Giang province was one of the nation’s poorest regions, known for producing rice, lychees and poultry dubbed “running chicken”. That was before the global tech supply chain shifted its way.
Now officials in the rural area north of Hanoi host representatives from Apple Inc and Hon Hai Precision Industry Co. The growth in foreign investment is almost doubling every year – even during the coronavirus pandemic – and the province forecasts the value of exports this year will reach US$11bil (RM45.60bil), a tenfold leap in six years. Residents have swapped loud, dirty motorbikes for new Honda two-wheelers while others drive Toyota SUVs and Mercedes sedans on freshly paved roads.
