An Insight into the Technology world.Analysis and Insight from Savvycom Team.
In the new COVID-19 status quo, many countries are receiving fatal blows both socially and economically - but they are probably not Southeast Asian. Having dealt with more pandemics throughout the years due to high population densities, Southeast Asia countries were totally well prepared against any trick of the novel Coronavirus.
Countries like Vietnam, Cambodia, Myanmar, Brunei, Timor Leste and Laos, each has under 500 confirmed cases as of July 22.
10/11 Southeast Asia countries have lower-than-average death rates. Among them, there are 5 countries having 0 deaths and 7 countries have > 90% recovery.
Southeast Asia is also predicted to be one of the quickest economies to recover from the pandemic.
Also, among Southeast Asia countries, Vietnam is predicted to shoot forward the most:
“We surveyed CEOs across the region where they wanted to put their money in the next 12 months. For 2 years in a row, Vietnam has come out on top. This has much to do with what is happening around the world, and that some CEOs are making adjustments to their supply chain in response to the current environment.”
- Raymond Chao, PwC's Asia-Pacific and Greater China chairman
On top of that, investing in technology and IT outsourcing would be among one of the most profitable landscape, given that:
The cost is significantly low due to humble minimum wage and favourable policy
IT labors in Vietnam are young, energetic, loyal and well-skilled
The location is convenient for travel
In short, through early strategic moves, Southeast Asia - or Vietnam in specific, is outperforming many other regions in this new state of affairs and lead the investment trend. Hence, if you are planning to get lucrative returns, wait no more to invest in Vietnam!