Conversations centered on Vietnam manufacturing are becoming more and more common. In fact, Vietnam has a bright future in serving offshore manufacturing interests. The nation has a robust workforce and policies that lend themselves to facilitating favorable manufacturing conditions for businesses.
At the same time, Vietnam has become one of the most progressive nations in terms of flexibility offered to manufacturers. That makes the nation an especially attractive place to do business for companies looking for an outsource manufacturing base.
What China Can Do in Manufacturing, Vietnam Can Do Better and Cheaper
After years of being accustomed to China providing the ultimate destination for inexpensive outsourcing, change is here. For instance, factory costs continue to rise. That’s why it’s worthwhile for firms today to look to Vietnam and see what it has to offer in terms of specialty manufacturing.
Vietnam has many core production specialties that make it an especially attractive alternative to competing markets. Here are Vietnam’s top exports, indicating their strongest manufacturing specialties.
1. Electrical Equipment and Machinery
Valued at over a billion dollars, electrical machinery is Vietnam’s number one manufactured export and has a good reputation for producing electronics.
2. Shoes and Footwear
Footwear is a second leading export for the nation which enjoys a lucrative relationship with Nike which has invested the majority of its shoe manufacturing operations there.
3. Apparel and Textiles
Clothing is another one of Vietnam’s top exports backed by a strong manufacturing base. Firms looking to produce knitted clothing can count on Vietnam to produce at a competitive price.
4. Furniture and Home Furnishings
Furniture is a Vietnam manufacturing specialty which makes the country a great place to move the production of home furnishings.
5. Medical Equipment
Various businesses also respect Vietnam for its production expertise in the manufacture of medical equipment. Manufacturers of specialized medical equipment should partner with Vietnamese suppliers for optical and medical apparatuses.
Advantages of Vietnam Manufacturing
As it turns out, Vietnam is a vibrant, knowledgeable, and capable nation when it comes to manufacturing. The Vietnamese government has made the country remarkably friendly to manufacturing interests in terms of policy.
The stability of Vietnam’s currency is also an important factor. Vietnam manufacturing production has spiked 10.5% as recently as April of 2019. And leading firms like Adidas, for instance, can produce over 50% more shoes in Vietnam than any other country.
Major advantages of Vietnam come down to the quality of their specialties in manufacturing. The majority of Vietnam’s manufactured exports consist mostly of finished products as opposed to raw materials. Overall, Vietnam makes a smart choice for manufacturing. If your products consist of electronic machinery, furniture, or even medical and optical equipment, this may be a viable option.
You Have the Right Partner in ITI Manufacturing
For US manufacturing companies considering outsourcing option or also experiencing challenges, it’s time you contacted ITI. We have a long, distinguished, and proven record of helping companies successfully navigate through the ins and outs of Asian and Vietnam manufacturing. In fact, we’ve had the privilege of building strong partnerships with manufacturers in China as well as in Vietnam. Likewise, we pass on the benefits of these business relationships to our customers by matching products with the right production facilities.
Whether you’re considering China, or Vietnam manufacturing, contact ITI Manufacturing online today to discover your options. For immediate professional assistance, or to learn more about our “No manufacturing defects” guarantee, call us at 888-574-6823.