U.S. companies are considering transferring their business from China to Southeast Asia, which includes Vietnam
Beginning in the last quarter of 2012, and in 2013 and beyond, Vietnam will still be highly considered within the most favoured destinations of ASEAN nations for low cost manufacturing
It is no surprise that American companies operating in China are more and more considering the Southeast Asian countries of Vietnam, Malaysia, Philippines, Indonesia and Thailand and taking advantage of lower cost manufacturing and workers’ wages.
A recent survey from the American Chamber of Commerce in Singapore reveal that U.S. companies, within the next year, will move their business operations from China, due in all probability to a combination of rising factory worker wages and the cost of doing business in China.
The survey revealed that 27% of over 350 top management executives employed for American companies in China are considering less dependence for their business on China.
From a quote taken from the article, More US firms may shift some business from China to ASEAN
“ASEAN is not only a vital U.S. trade and investment partner, it is a bright spot in the global economy,” said AmCham Vice President Tami Overby.
This strategic business decision fits neatly into an international company operating in China and their Your China Plus One Strategy. We believe that this strategy should include Vietnam.
Article source: Reuters with Reporting by Kevin Lim; Editing by Richard Borsuk
*ASEAN, or the Association of Southeast Nations consist of Vietnam, Singapore, Malaysia, Philippines, Indonesia, Thailand, Cambodia, Laos, Burma and Brunei.
Vietnam B2B Direct can be your trusted partner in Vietnam
Choosing a Southeast Asian country like Vietnam in sourcing low cost manufacturing entails extensive market research and due diligence.
It is imperative for a company to a find reliable local partner with a long history of operating in Vietnam that can help you directly in considering furniture manufacturing, in Vietnam.
You need to have a partner that understands the business climate and culture of Vietnam.
Vietnam B2B Direct’s Management Group consists of well educated English-speaking Vietnamese Personnel in its Vietnam operations trained in western business practices.
And, it is important to be able to consult and communicate directly with your local expert in Vietnam that can provide insight on local markets and how these markets are likely to change in the short and the long term.
Vietnam B2B Direct’s focus is on building trade agreements between worldwide companies and Vietnam businesses by providing full supply chain management services in sourcing, manufacturing, importing and exporting.
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Vietnam B2B Direct - International Trade Solutions Co., Ltd.
Head Office in Vietnam
2A / 20 Bach Dang Street
Ward 2, Tan Binh District
Ho Chi Minh City (Saigon), Vietnam
TEL +84 (0) 28 3844-7055
FAX +84 (0) 28 3842-3662
North American Offices 1-905-376-1700
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