Cyrus ('suh-ROOS') Farivar is a Forbes senior writer who covers retail, scams, surveillance, and more across Silicon Valley. He joined Forbes in 2022 and is based in Oakland, California. He has covered Temu, TikTok Shop, and the collapse of Cruise, the autonomous vehicle arm of GM.
For decades, the Southeast Asian nation has opened its doors to major firms like Apple, Samsung and Intel. Now it’s poised to do even bigger business.resident-elect Donald Trump says his plan to impose heavy tariffs on goods imported to the U.S. will shrink the federal deficit, lower food prices and create more jobs at home. On the campaign trail in Savannah, Ga., he vowed to “"relocate entire industries”" to the U.S.
Vietnam has a number of advantages over other regional rivals like India. First, as a single-party authoritarian state, Vietnam can and does set new business-friendly policy quickly. Additionally, the country is geographically well-positioned: it already has three of the world’s top 50 busiest ports, and is next-door to China, making trade and logistics between the two countries easier.
That’s a shift from its roots as a manufacturing powerhouse in southeast Asia. The country first developed a reputation in the 1990s for footwear and textile manufacturing for foreign multinational corporations likeand Adidas. But by the 2000s, major electronics companies began moving out of China to take advantage of lower labor costs and favorable trade agreements in Vietnam. Samsung.
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