Competitive labour cost and increasing productivity
The rise of wages in China, coupled with the recent trade war between the US and China, has forced manufacturers to look for an alternative market. This is an opportunity for which Viet Nam is well positioned.
Vietnamese workers are also producing higher value added goods. Between 2008 and 2016, labor productivity in Viet Nam increased by 22.5%. In 2018 alone, labour productivity rose by 6% compared to 2017.
Strategic location6:15 AM|06/01/2021
Located next to China, Viet Nam’s proximity makes it an ideal alternative location for investors seeking to diversify their supply chains from China. Investors are able to limit interruptions or delays to existing supply chains in China. Additionally, Vietnam’s major […]
Increasing integration into global economy6:13 AM|06/01/2021
Participation in strategic trade agreements, including the AFTA, EU-Viet Nam FTA and CPTPP, demonstrates the commitments of Viet Nam towards trade openness with other countries. Currently, there are 12 FTAs that Vietnamese exporters can take advantage of including agreements with major markets […]
Strengthening institutional and regulatory framework6:05 AM|06/01/2021
Over the years, the Vietnamese government has improved its legal and institutional framework to create a transparent and fair investment environment for investors. This has been reflected in the improvements in Viet Nam’s Ease of Doing Business ranking from 99th […]