For some large corporations and their enterprises this might be the case, but at least their supply chain isn't going to be under direct control of CCP. E.g maj

For some large corporations and their enterprises this might be the case, but at least their supply chain isn't going to be under direct control of CCP. E.g majority small and mid-sized companies supposed to have vietnamese citizens in management as otherwise you just can't do business in Vietnam. Vietnamese government in general is not very fond of China taking control over their economy and there are numerous protections against foreign entities inluding discriminatory ones specifically against chinese citizens like a effective bans on selling them any land. Disclaimer: I'm not from Vietnam, but I lived there for extended periods of time.