Malaysia, India, Thailand, Indonesia, and Vietnam will be the new China as the Factory of the world.
Manufacturing is central to a country’s economic development. That without it, we can never achieve a level of economic competitiveness with the world.
As China belongs to the second world's largest economy, there are new China's on the rise following its footsteps but we are not the candidate or in the shortlist at all.
Malaysia, Indonesia, Thailand, Vietnam are those countries seen to be a new factory of the world.
Why not the Philippines? What's happening to the country as the world's favorite destination of businesses?
There are problems that we should address amid the situations and on-going image problem we have internationally not in conformance with their standards that affects trade and investments. One law maker assents the fact that the extended martial law in Mindanao will further hurt business and investors in the island is one factor that trade will not thrive as expected under such situation.
While we are busy in congress and senate of "in aid of legislation" of political governance, we should be more busy "in aid of legislation" for trade, exports, businesses, and foreign investments to the country that would cure the ills of our economy.
We have seen the tremendous input of FDIs in Vietnam, and we pale in comparison with them.
Malaysia, India, Thailand, Indonesia, and Vietnam are set to enter the top 15 most competitive manufacturing countries. They are the “new China,” the top economies for low-cost manufacturing (i.e., labor intensive commodity type products like apparel, toys, textiles and basic consumer electronics).
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