Vietnam’s successful pandemic response and export led growth model have accelerated its levels of productivity and kept supply chains moving with limited disruption. Vietnam’s mobility trends show that several sectors have returned to pre-pandemic levels of economic activity. This has made businesses notice with Vietnam emerging as a highly effective for relocation in Southeast Asia since last year.
Vietnam’s stable politics, cheap inputs, competitive labor costs, facilitative trade environment, and investment policies make it an ideal location for investors seeking to reduce their operation costs and diversify their production capabilities.
Yet, choosing to relocate operations to Vietnam will not be without its share of challenges. Manufacturers must plan how to realign their supply chains, which production elements to relocate, and the ideal market entry strategy. While Vietnam cannot replace all of China’s production, it has attracted a significant number of firms looking at alternatives due to China’s rising costs.
In this issue of Vietnam Briefing, we look at ways to plan your relocation as well as market entry options in Vietnam. We then look at procedures and processes for setting up operations and geographic considerations for specific industries. We conclude with the status of Vietnam’s labor market and workforce optimization strategies.
This magazine is based on Dezan Shira & Associates’ years of experience in supporting foreign enterprises in Vietnam. For more information and advice on how to plan a relocation to Vietnam please contact us at email@example.com.