Vietnam is a choice location for manufacturing due to:
Competitive wages and manufacturing costs
A viable alternative for manufacturing activities.
Good network of FTAs
Strengthens Vietnam’s position as a manufacturing export hub.
Well-connected to existing consumer and manufacturing hubs in Asia
Easy for Singapore companies to integrate Vietnam into existing supply chains.
Continued investments by multinational corporations (MNCs) in the textile, garments, furniture and electronics sectors
Singapore companies may provide supporting services such as access to water and power, as well as logistics infrastructure and services, to these MNCs.
Singapore manufacturers may also leverage established industrial zones or parks, such as the seven integrated Vietnam-Singapore Industrial Parks (VSIPs), to facilitate entry into Vietnam. With a potential expansion of 1,500 hectares and new parks in the pipeline, industrial ties between Vietnam and Singapore are set to grow even stronger.