Global Manufacturing Moving to Vietnam
As the cost of doing business in China has risen, big multinationals and smaller enterprises have begun to look to other locations that may offer cheaper production costs and tax incentives. Vietnam has become one of the main beneficiaries of this trend. In this issue, we focus on the current movement of manufacturers away from South China towards Vietnam, and analyze the benefits to having a “China plus one” strategy. We also take a look at Vietnam’s infrastructure and its place in region. As China rises, Vietnam and the other ASEAN member nations are seeing increased opportunities for trade and cooperation, but fears of China also permeate and with its unique geographical position, Vietnam is at the crossroads of Southeast Asia’s development.