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The "China+1" wave is becoming reality. Multinationals are actively diversifying supply chains away from China — and Vietnam, alongside India and Mexico, is emerging as a top destination.

But this opportunity doesn't come automatically. Vietnamese businesses need to actively position themselves in this wave.

Global supply chains
Vietnam in the new supply chain map

Three Specific Opportunity Areas

1. Electronics manufacturing: Apple and Samsung are expanding in Vietnam. Opportunity for Vietnamese tier-2, tier-3 suppliers if they meet quality and ESG standards. 2. IT outsourcing services: As Chinese developer costs rise and geopolitical risks increase, Vietnam becomes a more attractive alternative. 3. Logistics & fulfillment: Goods no longer flow straight from China — Vietnam can become a transit hub.

This is a generational opportunity. But the window won't stay open forever — companies that prepare well today will harvest in the next 5-10 years.

Tran Minh Quan, Managing Partner Mekong Capital