Vietnam is not at the epicentre of major geopolitical conflict, but it is highly exposed to the economic aftershocks of almost every major logistics disruption. With one of the highest trade-to-GDP ratios in the region, turbulence in Hormuz, Suez, the Red Sea or other strategic corridors can quickly feed into Vietnam through fuel costs, ocean freight, transit time, delivery schedules, export orders and multinational expectations. When Vietnam is placed in the context of global supply chains shif