Vietnam will be one of the 10 most competitive nations in the world in the next five years, according to a study by Deloitte Touche Tohmatsu Limited and the US Council on Competitiveness.
US-based Deloitte Touche Tohmatsu Limited which specialises in audit, consulting, financial advisory, risk management and tax, and the US Council on Competitiveness jointly conducted a study gathering data from more than 550 CEOs and senior manufacturing leaders in 2012.
In their 2013 Global Manufacturing Competitiveness Index, the study says in the next five years emerging economies will surge to occupy the top three spots, with China retaining top position, and India and Brazil moving up to claim second and third rankings, respectively.
Vietnam is forecast to move into the top 10 as the tenth most competitive nation behind Singapore and ahead of Indonesia, Malaysia and Thailand. It currently ranks 18th behind Singapore, Thailand, Malaysia and Indonesia.
According to the report, developed economies such as the US, Japan and Germany will have to enter into fierce competitions with emerging economies like China, Brazil and India to retain their competitive levels.
In five years, China is predicted to top the list of competitive nations, followed by India that will replace Germany, while Brazil will replace the US’s position.
In the next decade, 10 Asian economies will be among the 15 most competitive nations in the world.
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