The cost competitiveness of Vietnamese operations was far greater than that offered by China or other regional destinations, Chairman of the US-Vietnam Chamber of Commerce Chris Runckel has said.
The young population base and the diligent workforce made Vietnam among the top choices for foreign investors, the daily Bangkok Post quoted Runckel as saying.
US multinationals from Portland and Oregon all have the same feeling that the Vietnam operations are among the most cost competitive and have the best quality of any production bases outside the US , said Runckel, who is also President of Runckel & Associates.
According to the official, Vietnam is trying to increase the efficiency of investment projects and therefore is now offering various incentives to companies in supply chain management.
Recently, Binh Duong authorities have hosted a seminar in Bangkok to seek qualified investors to build a new city in the province, around 25km from the southern largest economic hub of Ho Chi Minh City .
Vietnamese Ambassador to Thailand Nguyen Duy Hung said a number of Thai companies such as Amata Corp, Siam Cement, Charoen Pokphand Group and Loxley Plc had invested in Vietnam and are reaping the benefits.
Sharing the ambassador’s view, Runckel said Thai businesses with know-how, management techniques and strong balance sheets are what Vietnamese companies were looking for./.