About [C] Vietnam

Vietnam still has a huge gap, and there isn’t government support to give a foundation, even on construction standards. It’s moving in the right direction, but it needs a boost from regulations or something to push it over the line. Right now, it’s left to firms like us and others that are pushing the agenda, and it becomes very expensive for clients to do it because you need so many people involved to get it across the line. If it was more regulated, it would be far less of an added or optional cost for clients.

In the above context, continued home working and labor shortages do not help European productivity either. The end effect is a productivity drop, which in a roundabout way is an opportunity for lively Vietnam. As a consequence, high-value work like R&D and AI will likely increasingly migrate here; a phenomenon we can already observe. Time will tell if the European challenge is temporary or structural. One can only hope the situation will improve.