- The trend of shifting production to Vietnam
Many Chinese companies have a need to establish manufacturing facilities in Vietnam. Vietnam is an attractive destination with convenient transportation routes between the two countries. Therefore, it will be convenient for the transportation of goods and raw materials to serve production. Since 2019, the number of Chinese companies in need of renting land and workshops in Vietnam has been significantly large. The northern region is preferred as it has lower rental prices compared to the southern region, despite the increasing trend. The main reason leading to this trend is primarily due to the previous outbreak of Covid-19. Covid-19 caused the production situation in China to stagnate and disrupted the supply chains between China and other countries. In light of this situation, foreign partners of China want manufacturing companies to have additional factories outside to ensure that production operations can be maintained.
- Preparation for the needs of investors
During the phase of declining FDI, this is a positive sign for Vietnam’s recovery efforts. In order for the shifting trend to become a “reality,” the Vietnamese government and businesses need to prepare for the needs of investors. The typical concerns of foreign investors are usually centered around the following five issues:
- Regarding the location of industrial parks: Convenient transportation, multiple highways, proximity to airports, seaports,…
- Customs duties incentives and support from the government.
- Labor force, the age of the workforce in the region, labor costs,…
- Infrastructure, the credibility of the investor,…
- Infrastructure rental prices and management fees.
Additionally, legal procedures are also one of the obstacles that make foreign investors hesitant. Choosing a professional and highly skilled consulting team is an optimal solution for legal issues.
About our company
HMLF is a Law Firm licensed to provide legal services to Enterprises. With over 70 years of experience in:
– Finance, Accounting, Tax.
– Industry: Manufacturing, Service, Aviation, Transport, Technology, Finance.
– Helping Customers control transactions from internal legal to international trade. Become the best legal defender for Businesses.
– Try to offer optimal solutions to bring customers satisfaction.
HMLF is always available to offer assistance in understanding the procedures with authorities.
Harley Miller Law Firm “HMLF”
Head office: 14th floor, HM Town building, 412 Nguyen Thi Minh Khai, Ward 05, District 3, Ho Chi Minh City.
Phone number: +84 937215585
Website: hmlf.vn Email: miller@hmlf.vn
