Current world events are causing companies to re-examine their manufacturing strategies. They are rethinking where and how they make and source their goods. Many are moving away from having a single-source manufacturing strategy. Companies want to diversify their supply chains and move manufacturing and assembly operations closer to their end markets.<\/p>\n\n\n\n
Some countries which have long been considered as simply low wage assembly points, are now flexing new-found muscle in the manufacturing space.<\/p>\n\n\n\n
Vietnam<\/strong><\/p>\n\n\n\n With a population of 96 million, Vietnam has been an economic success story. Since the turmoil of the 1960s, Vietnam has turned itself into a global success story. Economic reforms enacted in 1986 have taken hold and turned one of the world\u2019s poorest nations into a middle-income economy in a single generation. GDP per capita is increasing, and poverty rates are dropping.<\/p>\n\n\n\n The Regional Comprehensive Economic Partnership, of which Vietnam is a member, has formed the world\u2019s largest trading bloc and has recently agreed to lower cross-border tariffs on exports and imports within 20 years, for member nations. <\/p>\n\n\n\n Goods manufactured in Vietnam will be able to move freely across these borders and reach a significant portion of the world\u2019s population. This opens up a whole world of new markets.<\/p>\n\n\n\n If you are interested in exploring these opportunities a firm like Acclime Vietnam<\/a> or others will be critical to your success.<\/p>\n\n\n\n