Description

Vietnam’s economy is taking off dramatically. After a long period of steady growth, foreign direct investment (FDI) leapt to $10 billion in 2006 and $21 billion in 2007. The country’s economy, growing at an annual average of 8% for the last few years, is moving beyond basic industries, like garment-making, to more sophisticated products. In 2007, Intel and Foxconn (a large Taiwanese electronics manufacturer) each began new projects in Vietnam valued in the billions of dollars. This phase of rapid growth is creating new challenges for HR managers there.