September 5, 2019
The application of List 4A - Section 301 is imminent and due to be applied September 1, 2019. The ongoing trade tensions between China - USA is seen to be adding some benefit to neighbouring countries such as Vietnam. Vietnam is experiencing an influx in foreign investment from Chinese manufacturers who are strategically locating their production facilities to avoid the imposition of the ongoing tariffs.
Vietnam's economy has long since been boosted by foreign investment, thanks to its cheap labour force and attractive business environment, which have proved advantageous to many international companies. Multinationals continue to bolster their presence in this upcoming country and have cemented their future operations using Ho Chi Minh as their key head office location in Vietnam.
The upcoming tariffs have further attracted investment into the Vietnamese economy and it appears that this is a trend that will continue to appeal to foreign investors. The trade war continues, the future trade relationship between China - USA trade remains uncertain, alternative strategic approaches are required to combat additional costs imposed by the numerous tariffs.
Crane Worldwide Logistics Vietnam has continued to support our clients in the region, reliable and responsive 3PL providers are certainly a benefit to manufacturers exploring new opportunities in Vietnam as well as developing their ongoing supply chain strategies in South-East Asia.
Headquartered in Ho Chi Minh, with additional operations in Hanoi, Da Nang, Hai Phong and Vung Tau, our clients have benefited from our global presence and local knowledge. If you would like to learn more about our capabilities in Vietnam, please reach out to your local representative or contact the Vietnam team directly.