Vietnam Consumer Electronics Q1 2020
Vietnam is a frontier economy with low levels of device spending per capita - but it has huge potential due to thecombination of relatively low device penetration rates and broad based economic growth momentum. This will result in sustainedand robust purchasing power growth that sees households enter the middle class and devices market for the first time, as well asexpansion of the pool of 'global middle class' consumers in the major urban centres of Hanoi and Ho Chi Minh City. The core devicesmarket scenario is positive, and Vietnam has an attractive risk profile for a frontier market, but there is potential that US disputeswith China about trade and industrial policy could have detrimental impact on Vietnam's manufacturing and export oriented growthmodel by weakening external demand or disrupting regional supply chains.
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