For many years now, China has stayed at the top as one of the best outsourcing countries. Cheap raw materials and skilled labor are abundant in China. However, Vietnam is slowly climbing the ladder and is showing quite a prospect to become the most sought-after country for outsourcing. Many traders have already relocated from China to Vietnam and are considering this country to be in their best interests. Vietnam sourcing is growing pretty quickly in terms of manufacturing and several brands have shifted their base to this country in order to make a better profit. In the last few years, Vietnam has grown over 47% and maintains this rate at a steady pace.
However, Vietnam is yet to make a noise in the world of procurement. New companies are skeptical about trusting the manufacturing companies in this country and debate on whether they will be able to meet their demands. Many also compare the expert labor in China to that of Vietnam and wonder if their standards can be matched. The quality of the manufactured products has to be top-notch for companies to trust this country. Even amid this confusion, experts guarantee that this country is a good sourcing place and that companies can profit even if they shift from China product sourcing and resort to Vietnam sourcing.
Reasons why Vietnam can be considered an excellent outsourcing country
China has almost become a worn-out option. As an alternative, companies are turning to Vietnam and trying to get their manufacturing done here. The following are some of the reasons why Vietnam can be considered an excellent alternative to China:
* Availability of manufacturers for the specific product – Relocating to Vietnam, or any other country should be considered by the fact if there are manufacturers for the specific product type. The Chinese market has manufacturers of every kind. But in Vietnam, you have to search and then come to a conclusion if you can trust the manufacturer to give you what you desire. In Vietnam sourcing, you will indeed find a diverse manufacturing industry. Check for reviews and feedback before making a decision.
* Infrastructure and logistics – It is true that Vietnam’s infrastructure and logistics are a little limited when compared to China. However, Vietnam is steadily outranking many of its contemporaries in the field of outsourcing. This means that the government is slowly investing in better infrastructure. The ongoing construction of expressways will surely give a boost to the country’s logistics industry.
There are multiple factors for you to shift to Vietnam and continue with your manufacturing process here. You can definitely move from China product sourcing and consider Vietnam as a worthy alternative, but go through every factor thoroughly so that you do not regret later about the decisions made. While the labor cost is low everywhere, check the quality of the material produced before shaking hands with any company. Discuss your financial investment beforehand so that the outsourcing process goes smoothly without any hiccups in between.