Asia: Choosing your China+1 Location
Navigating Asia’s geopolitical landscape in the current context of the COVID-19 pandemic can be difficult for most foreign businesses. This is more so when moving business activity out of China.
Vietnam features high on the radar for foreign businesses scaling up or choosing alternate sites outside China due to its success in creating an adaptable production base – that is geared toward higher-value manufacturing, according to an article from Asia Briefing.
While most can agree that Vietnam’s infrastructure and supply chain network cannot match that of China’s, the government has been making strides to bridge that gap. In addition, many manufacturers are using Vietnam to support their China +1 strategy by maintaining key operations in China and supplementing them with operations in Vietnam.
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