Vietnam: next big thing?
By SwizStick • Oct 12th, 2006 • Category: QuickNewsÂ
When even Chinese manufacturers are setting up shop in Vietnam, you know something is up:
Factory wages in average $50 to $60 a month, which is about half that of Chinese workers in manufacturing centers along China’s coast.
Although it may be hard for some American firms to imagine that Vietnam could compete with China, the decision by Intel to build a microchip facility near Ho Chi Minh City instead of China or Thailand demonstrates that Vietnam is quickly becoming a viable option to China.
The government has been busy building roads, airports, and seaports in anticipation of growing foreign direct investment, which more than doubled to $5.8 billion last year from $2 billion in 2004.
Look for this trend to continue.
Stumble it!
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