According to Savills Southeast Asia, Vietnam is considered an outstanding investment destination for high value-added manufacturing, with production capacity meeting the requirements of international investors.
|The processing and manufacturing sector in Vietnam is driven by a skilled workforce.|
The processing and manufacturing sector in Vietnam is driven by a skilled workforce. Currently, production and logistics costs for the import-export of goods are at an attractive level.
The import-export business has also become more convenient with improved logistics networks.
Manufacturing costs in Vietnam are also more competitive compared to other countries in the region, such as Singapore and China. Therefore, companies are turning to alternative markets and Vietnam is doing its best to catch these trends, especially in this post-pandemic period.
Vietnam’s export turnover of processed industrial products in the first seven months of 2022 continued to make a major contribution to the overall growth rate of export business, with an estimated turnover of nearly 186 billion USD, up 16% from the same period last year, and accounted for 86% of total export turnover.