Vietnam offers competitive business operation costs

The cost competitiveness of Vietnamese operations is far greater than that offered by China or other regional destinations.

The young population base and the diligent workforce have made Vietnam become one of the top choices for foreign investors, said Chairman of the US-Vietnam Chamber of Commerce Chris Runckel.

US multinationals from Portland and Oregon all have the same feeling that the Vietnam operations are among the most cost competitive and have the best quality of any production bases outside the US. Vietnam is trying to increase the efficiency of investment projects and therefore is offering various incentives to companies in supply chain management.

Recently, Binh Duong authorities hosted a seminar in Bangkok to seek qualified investors to build a new city in the province, around 25km from the southern largest economic hub of Ho Chi Minh City.

Vietnamese Ambassador to Thailand Nguyen Duy Hung said a number of Thai companies such as Amata Corp, Siam Cement, Charoen Pokphand Group and Loxley Plc have invested in Vietnam and are reaping the benefits.

Thai businesses with know-how, management techniques and strong balance sheets are what Vietnamese companies are looking for.

vov, vietnamplus

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