In an integrated world economy, Vietnam experiences certain comparative advantages. It’s considered the factory of many leading international corporations such as Samsung, Intel, Canon, Fujitsu, Toyota, Honda, Nike and thousands of other FDI enterprises. So what makes Vietnam the world’s next factory?
Firstly, the population of the country is reaching 100 million with a promising reasonable-price workforce of many different skill levels from hard-working labourers to professional engineers and managers.
Secondly, political stability makes Vietnam a peaceful country. This will give investors peace of mind and so can focus on growing their money. Moreover, the country has good relationships with more than 200 countries and territories in the world and participation in many free trade agreements. As a result, importing and exporting to/from Vietnam benefit from preferential tax treatment from international trade agreements, in some instances even no trade tariffs; bringing more pricing advantages to investors.
Thirdly, paperless operations have been gradually expedited in custom clearance and administrative procedures like tax declaration. Businesses won’t have to spend a significant amount of time to work on paper but only need to “click” instead. Hours are saved. Besides, the government is cutting down the differentiation between Vietnamese and foreign firms in order to create transparency and equal opportunity to all kinds of businesses.
Fourthly, the position of Vietnam is an important connection of the maritime route between Europe and Northeast Asian countries with crucial ports such as Cai Mep, Ho Chi Minh, Hai Phong, Da Nang, Cam Ranh. Goods from Vietnam can be delivered to many countries in the world. The government offers many favourable policies for important industries like manufacturing, furniture, agriculture, and power.
About VTV Furnitures
Since Vietnam’s economy is creating endless opportunities for local businesses to grow and deliver great products, VTV Furnitures is striving to design and manufacture premium quality furniture for both national and international clients. Promising economic situation makes it easy for us to deliver cost-efficient custom furniture services to residential and commercial clients. Please contact us for more details!