why source in vietnam?

Since the 1990's Vietnam has experienced the highest economic growth of all the ASEAN countries, growing more than 7% annually in recent years. This has been largely due to increased quantity of exports and an open, progressive economic model. The country is a major world supplier of commodities, including coffee, seafood, rubber, rice, pepper, and crude oil. In the past 10 years, Vietnam has emerged as a leading and reputable manufacturer of quality footwear, wood products, furniture, handicrafts, and garments. As demand has grown for these products, the number of factories in Vietnam has also grown. With a rapidly developing manufacturing sector, convenient location, lower labor and land costs than China's coastal region and an increasingly attractive domestic market, Vietnam has emerged as an attractive hedge for companies with operations in China.

• Benefits of production in Vietnam:
• Low labor rates
• Skilled workforce producing higher quality products relative to other low wage countries in the region
• Smaller quantity production batches available
• Political stability compared to other options in Southeast Asia
  • Bilateral trade agreements with EU and US
  • Member of WTO since 2007
  • Member of Association of South East Asian Nations (ASEAN)
• Greater potential for shipping efficiencies due to direct access to the ocean along the country's 2500 kilometer coastline.