Sourcing Alternatives to china

LOOKING TO AVOID US-CHINA TARIFFS?

In today’s ever-evolving global marketplace, navigating the intricate web of trade tariffs and international relations can be a daunting task. Are you looking to steer clear of the tumultuous US-China tariffs? Look no further than Haskee, LLC – your trusted partner in overcoming these challenges.
Our extensive global network and unrivaled expertise in Asia, Europe, and the Americas allow us to offer you viable alternatives and comprehensive supply chain management solutions. Whether you’re seeking the perfect manufacturer, planning a seamless production transition, or in need of scalable, end-to-end supply chain solutions, we’ve got you covered.
At Haskee, LLC, we take pride in our ability to connect businesses with opportunities worldwide. With us by your side, you can confidently explore options beyond the shadow of US-China tariffs. Let us empower your global ambitions, providing the guidance and support you need to thrive in today’s complex trade landscape. Discover the possibilities with Haskee, LLC, and embark on a journey towards tariff-free success.

COUNTRY OVERVIEW

Vietnam’s economic transformation over the past few decades is nothing short of awe-inspiring. From its roots as a densely populated agrarian economy, it has evolved into a dynamic industrial and market-oriented powerhouse in Southeast Asia since 1986. This transition has not only elevated the country’s status on the global stage but has also significantly boosted the incomes of its industrious population. Electronic and electrical products reign supreme as Vietnam’s top exports, underlining the country’s impressive competitive advantage in this sector. From smartphones to integrated circuits, Vietnam has become a major player in the market, supplying the world with essential tech components. A prime example is Samsung, the largest Vietnamese exporter, which played a pivotal role in helping the country achieve a trade surplus in 2018, a remarkable milestone after many years. Footwear manufacturing is another shining jewel in Vietnam’s industrial crown. Renowned brands like Adidas, Puma, and Nike have set up shop in the country, making Vietnam the fourth-largest footwear manufacturer globally, following only China, India, and Brazil. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), formerly known as the TPP, is set to further fuel this thriving industry’s growth. Vietnam’s excellence extends to furniture manufacturing as well, with the country ranking eighth in the world for furniture exports, according to the Italian Centre for Industrial Studies. Global retailers entrust Vietnamese manufacturers to bring their furniture designs to life, building and exporting them with precision and quality. The world has taken note of Vietnam’s prowess, with the US, China, Japan, South Korea, Hong Kong, and the Netherlands emerging as key trading partners. In 2018, Vietnam’s exports tallied an impressive $244.7 billion, marking a remarkable trajectory of growth. Over seven years, from 2012 to 2017, exports surged at an annualized rate of 13.5%, a testament to the country’s resilience and adaptability in the face of evolving global dynamics. Vietnam’s monthly exports, which have witnessed a meteoric rise from $0.54 billion in February 1997 to an all-time high of $23 billion in August 2018, are poised to continue breaking records. With the ongoing trade tensions between the US and China prompting companies worldwide to diversify their supplier base, Vietnam stands as a beacon of reliability and excellence, ready to supply the world with the products that have made it a global economic success story. In Vietnam’s journey, there’s a lesson for us all – that with vision, determination, and innovation, any nation can rise to new heights and shape the future of global trade.

TOP 10 EXPORTS

1. Electrical machinery, equipment including mobile phones – $107.8 billion (39%) 2. Footwear – $21.8 billion (7.9%) 3. Clothing, accessories (not knit or crochet) – $15.7 billion (5.7%) 4. Machinery including computers – $15.1 billion (5.5%) 5. Knit or crochet clothing, accessories – $14.6 billion (5.3%) 6. Furniture, bedding, lighting, signs, prefab buildings –$9.7 billion (3.5%) 7. Optical, technical, medical apparatus – $6.2 billion (2.2%) 8. Fish – $5.5 billion (2%) 9. Plastics, plastic articles – $4.1 billion (1.5%) 10. Iron and steel – $4.1 billion (1.5%) *data from www.customs.gov.vn (Ministry of Finance of Vietnam, General Department of Customs)

ADVANTAGES OF BUYING FROM VIETNAM

Vietnam, a shining star among emerging markets, presents a compelling case for businesses seeking to diversify their supplier base and manufacturing operations. A confluence of factors sets Vietnam apart as the preferred destination for those looking to harness its vast potential. First and foremost, Vietnam offers substantially lower wages compared to its neighbor, China. This cost advantage is a magnet for businesses looking to optimize their production costs while maintaining high-quality standards. A young and dynamic population fuels Vietnam’s economic vibrancy, bringing fresh talent and ideas to the table. The country’s stable political environment, low inflation, and investment in robust infrastructure create a conducive atmosphere for growth and prosperity. Vietnam’s manufacturing sector is robust and well-developed, thanks to the presence of numerous factories owned by Chinese, Japanese, Korean, and Taiwanese companies. This influx of expertise has led to the cultivation of a diverse range of production capabilities that are readily accessible to foreign buyers. Geographic proximity to China adds another layer of appeal. Vietnam’s strategic location positions it as an ideal hub for businesses looking to streamline their supply chain operations. Furthermore, Vietnam has embraced trade liberalization over the past two decades, signing various free trade agreements that have expanded its global reach. From joining the World Trade Organization (WTO) in 2007 to more recent agreements such as the EU-Vietnam Free Trade Agreement and the Korean Free Trade Agreement, Vietnam is primed for international trade. In this era of globalization, Vietnam’s story stands as a testament to the boundless possibilities that await those who dare to innovate and invest. With a pro-business environment, skilled workforce, and a strategic location, Vietnam beckons forward-thinking enterprises to make it their home. The future is bright, and Vietnam invites you to be part of its journey towards continued growth and success.
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