Vietnam's economic anchor is export-oriented manufacturing, built on a sustained inflow of foreign direct investment. Capital enters through multinational production facilities, circulates as wages and supplier payments, and exits as finished goods exports. Internal demand is rising but remains secondary to the export engine. The demand structure is therefore externally oriented: the health of Vietnam's economy is closely tied to global electronics demand and the supply chain decisions of a small number of large multinational manufacturers. The active constraints are infrastructural and institutional: power supply reliability, logistics depth outside major corridors, and the administrative capacity to absorb and govern continued FDI inflows. The medium-term structural question is whether Vietnam can move up the value chain before its labour cost advantage narrows.
15–16 pages. Structured orientation — no background reading required.