Opinion | In Vietnam, ‘China plus one’ still needs Chinese input

At the Fortune Southeast Asia 500 Summit in Ho Chi Minh City on November 3, a discussion of regional connectivity explored how goods move across borders. I came away thinking about what stays behind. When production moves to Vietnam, how much of the ability to produce moves with it?

Vietnam has set itself an extraordinary ambition. Its five-year plan, approved in April, targets average annual gross domestic product growth of at least 10 per cent from 2026 to 2030. Developing Vietnamese suppliers should be one test of that ambition.

Growth is welcome, but different kinds of growth leave different inheritances. A factory creates jobs and exports. Its longer contribution depends partly on whether Vietnamese businesses learn to supply it, improve their products and win other customers.