Vietnam grapples with shrinking exports, power crunch

The economy of Vietnam is going through a challenging phase, with factors such as reduced exports and frequent power outages causing hindrances. This has caused doubts and worries about the future of Southeast Asia's manufacturing center, which is on the rise.

Vietnam has seen remarkable economic growth, positioning itself as one of the fastest-growing economies in Asia in recent years. The country's gross domestic product grew by 8% in 2022, making it a hub for global companies who seek a production base alternative other than China. Furthermore, it boasts a vibrant and burgeoning consumer market that is primarily young and promising.