Vietnam is Much Preferred for Start-up Manufacturing Projects
The types of businesses in developing countries, attracting foreign investment has evolved a great deal. Initially, sourcing Asia would be limited to the procurement of simple commodities. Gradually, importing from Vietnam, China and other neighbouring countries would include more and more complex and sophisticated products. Many MNCs even went on to set up production bases in these countries.
The current trend in sourcing from Vietnam is the development of start-up businesses and new products: from concept to prototype to low cost manufacturing to eventual sales and distribution. Companies especially from Australia, Canada, the USA and Europe are availing of the benefits that Vietnam offers. In fact, some of the most innovative products in the market today are being manufactured in Vietnam.
Bill Gadd, CEO of Vietnam B2B Direct said, “Yes, we have seen over the years a number of start-up companies with innovative ideas looking to Vietnam to develop their products. And rightly so, as Vietnam offers a low cost manufacturing alternative solution to China, aptly called China Plus One, a strategy that many people are catching onto throughout the world.”
What distinguishes Vietnam is the willingness of the native manufacturers to position themselves at the front end of potential world class products. They have also done a great job in extending support, such as suggestions on material selection and material alternatives.
Bill added, “Over the years our worldwide client base includes many start-up businesses, not just the multi-million and billion dollar sales organizations that use our services, but include innovative individuals and SME businesses.“
Since Vietnamese Manufacturers have not ventured out into the world as Sales Organizations, unlike Chinese manufacturers, the country also offers a fair degree of Intellectual Property Protection
The dedicated work force of Vietnam has helped international clients develop numerous start-up products, some of which include:
- Exercise Backpacks
- Motorcycle Backpacks
- Surgical Bed Sheets
- Innovative Wood Furniture
- Paper Tablet Notebooks
- Bamboo Stools (Chairs)
- Hand-made Christmas Ornaments
- Biodegradable Plastic Bags
In addition, the Pet Industry of Vietnam is rapidly gaining grounds, helped by the low cost manufacturing, supporting busines and legal services — which is characteristic of this region.