A growing number of Danish firms are moving activities out of China as part of a wider shift in global supply chains.
After decades of relying on the Chinese market, companies are rethinking where to place production, talent and investments, The Hindu reports.
According to Søren Holm Johansen, Chairman of the India Denmark Chamber of Commerce, many Danish companies are now pursuing a “China plus one” strategy, keeping some presence in China, but actively building operations elsewhere.
“There’s also a lot of Danish companies that have indicated that part of their China plus one strategy… are looking to move out,” he said.
But the shift is not automatically benefiting Southeast Asia.
Countries like Thailand, Vietnam and the Philippines are all competing to attract these companies. Still, they are increasingly being passed over as firms weigh other factors in their decision-making.
At the same time, the move does not signal a withdrawal from Asia. Danish companies are continuing to invest and expand internationally—just with less focus on China than before.
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