You know, the total consumption value of products of Furniture Factories in Vietnam accounted for about 4 billion USD in 2018, according to Hawa – the Handicraft and Woodworking Association of Ho Chi Minh City. In addition, foreign enterprises contribute up to 44% of the total export turnover of wood and products and the remaining 55% of domestic enterprises.
The Vietnam market is very potential in the past few years. Then, many investors from all around the world constantly invest in outstanding fields that are highly possible to rocket up. Furniture is likely to be one of the top areas that international investors are considering.
So, the question is ” Why Are Investors Interested In Furniture In Vietnam A Lot? “.
Here are 3 reasons to answer what you’re asking for.
High Skilled And Hard-Working Workforce
The workforce is laser-focused on performing one job well. You can get one employee to do many different tasks easily. In most countries, workers usually start work at 9 am and finish at 5 pm. They don’t tend to work overtime as they want to spend time relaxing and doing something else.
In Vietnam, people not only start work at 8 am and finish at 5 am but also tend to do overtime till 9 pm. Therefore, they even don’t have high education at school but the experience at work.
For non-experienced employees, there are training classes available to direct beginners from the start. Make sure that workers are possible to set up. Generating professional staff helps to advance the production process. It contributes to the success of the business.
Industrial Production Is Improved – Vietnam Furniture Manufacturers
The progress has been unbelievable how fast the manufacturing units are matured.
A few years ago, people headed to capitalize on furniture production in China because the Chinese manufacturing lifespan has been going on for a long time. So they were experts at what they did, whereas Vietnam was still in the early stages, racing behind China. But Vietnam has displaced China as the world’s top furniture exporter to the United States, according to data from the American magazine Furniture Today. It also means Vietnam is ready to race in the furniture competition with China.
Salary Levels Are Low
Compared to European counties or the USA, Vietnam is an ideal place for low-cost human sources. Then, you’re able to hire lots of employees to enhance production. Moreover, Vietnamese people are creative, they’re into looking for new things and willing to face challenges. Coming from a low economic point, the Vietnamese continuously prove their capabilities to neighboring countries and beyond other riches in the world.
Getting a below-average income doesn’t mean there’s no development. Vietnamese people are eager to do whatever it takes to improve their living conditions. Also, that helps the country grow in the upcoming years. In the end, working based on a win-win relationship is better, not just one side’s driving benefits.
There are many advantages to investing in Furniture Factories In Vietnam, I just tell you the most 3 reasons and hope that I can help you imagine a general picture of Vietnam’s economy. Financing or starting in Vietnam business is not a bad choice for sure.
If you want to know more information about Furniture Factories In Vietnam, comment below or Contact Q-Furniture, I’m in a position to assist you at any time.
