Vietnam ATEGI: una oportunidad de diversificación

La clave:

Vietnam se ha consolidado en los últimos años como un actor clave en las cadenas globales de suministro, atrayendo inversiones extranjeras y estableciéndose como un hub manufacturero. Con costes competitivos, mejoras en infraestructura y acuerdos comerciales estratégicos.

En esta entrevista con Cao Cuong Nguyen, Vietnam Market Resp. de ATEGI, queremos entender por qué Vietnam es una opción atractiva para las empresas cliente de ATEGI.

Vietnam has established itself in recent years as a key player in global supply chains, attracting foreign investment and establishing itself as a manufacturing hub. With competitive costs, infrastructure improvements and strategic commercial agreements.

We want to understand why Vietnam is an attractive option for ATEGI client companies.

Vietnam has developed a reputation as a manufacturing destination due to its competitive labor costs and rapid industrial urbanization.

What are the specific sectors or products/services in which Vietnam can offer a competitive advantage over other Asian countries such as China or India?

Vietnam has competitive advantages in several key sectors over other Asian countries like China and India:

1. Electronics: Low labor costs and strong infrastructure attract major brands like Samsung and Intel for assembly and manufacturing.
2. Apparel and Textiles: Competitive labor costs and trade agreements make Vietnam a major clothing exporter, particularly to the U.S. and Europe.
3. Footwear: Skilled labor and lower costs help make Vietnam a leader in footwear production for brands like Nike and Adidas.
4. Automotive: Favorable trade deals and low labor costs position Vietnam as an attractive site for automotive production.
5. Agriculture and Seafood: Vietnam is a top exporter of seafood and agricultural products like coffee, thanks to its climate and skilled labor.
6. Renewable Energy: Strong government incentives and natural resources help Vietnam grow in solar and wind energy.
7. Furniture: Abundant timber and low labor costs drive Vietnam’s furniture export growth.
8. IT Outsourcing: A young, tech-savvy workforce makes Vietnam a cost-effective destination for IT outsourcing and software development.
9. Medical Devices: Competitive labor and favorable trade agreements boost Vietnam’s medical device and pharmaceutical manufacturing.
10. ICT Hardware: Vietnam’s growing electronics sector makes it an emerging hub for ICT hardware like semiconductors and circuit boards.

Vietnam’s labor cost, trade agreements, and industrial growth give it a competitive edge in these sectors.

In recent years, Vietnam has made significant investments in logistics infrastructure, including ports, rail networks and airports.

How have these improvements impacted delivery times and transport costs to Europe?

  Ports: Upgraded ports like those in Ho Chi Minh City and Hai Phong have reduced congestion, shortened shipping times, and allowed for more direct services, cutting several days off transit times to European ports.

  Rail Networks: The enhanced China-Vietnam-Europe rail link offers a faster alternative to sea freight, with delivery times to Europe reduced to 16-20 days, compared to 30+ days by sea.

  Air Freight: Expanded airports have improved air cargo handling, making air transport more reliable, although still costly. However, the improved infrastructure helps control costs.

Vietnam is part of trade agreements such as the EU-Vietnam Free Trade Agreement (EVFTA).

What specific benefits does this agreement offer to European companies, particularly in terms of tariffs, regulatory barriers and certifications?

1. You can talk about the reduction or elimination of tariffs, greater transparency in regulations, alignment with international standards, and how this facilitates the entry of Vietnamese products into Europe.
2. The EU-Vietnam Free Trade Agreement (EVFTA) offers several key benefits to European companies:
3. Tariff Reductions: Over 99% of EU exports to Vietnam will be tariff-free, including sectors like machinery, pharmaceuticals, and agricultural products, making European goods more cost-competitive in Vietnam.
4. Reduced Non-Tariff Barriers: The agreement simplifies customs procedures, reduces quotas and licensing requirements, and aligns regulations, making market access easier for European businesses.
5. Investment Protection: It ensures stable investment conditions, including safeguards against expropriation and improved access for service providers, particularly in finance and telecommunications.
6. Certification and Standards: Mutual recognition of certifications reduces duplication, while product standards and conformity assessments are aligned, streamlining exports.
7. Intellectual Property Protection: Strengthened IP protections, including trademarks and geographical indications, reduce the risk of counterfeiting and mislabeling.
8. Sustainability: The EVFTA supports labor rights and environmental standards, aligning with Europe’s CSR goals.
9. Dispute Resolution: The agreement includes mechanisms for resolving trade disputes, ensuring fair treatment for European companies.

In short, the EVFTA enhances trade efficiency, reduces costs, and provides stronger legal protections for European businesses in Vietnam.

Sustainability is a growing priority for European businesses and consumers.

How is Vietnam addressing sustainability demands in its manufacturing and energy industry to meet European expectations?

1. Renewable Energy: Vietnam’s renewable energy capacity is rapidly expanding. As of 2024, the country’s total installed solar power capacity reached over 16,000 MW, and wind power capacity exceeded 1,000 MW. The government aims for 20% of energy from renewables by 2030, with major investments and international partnerships in clean energy projects.
2. Green Manufacturing: Vietnamese manufacturers are increasingly adopting energy-efficient technologies. The textile and electronics industries, for instance, are reducing water and energy consumption. Many factories are also moving toward sustainable materials to meet EU standards.
3. Circular Economy: Vietnam is promoting recycling and waste reduction, particularly in its electronics and textiles sectors. In 2024, several companies began implementing circular economy principles, focusing on reusing materials and minimizing waste.
4. Sustainable Infrastructure: The construction sector in Vietnam is growing with green buildings and energy-efficient designs. Many new developments follow LEED certification standards, emphasizing sustainability.
5. EU-Vietnam Free Trade Agreement (EVFTA): The EVFTA, which came into force in 2020, includes clauses that promote environmental sustainability. It encourages Vietnamese businesses to adopt higher environmental standards, boosting exports to Europe.
6. Carbon Footprint Reduction: Vietnam is working on carbon pricing mechanisms, with emissions trading systems in development. The country is committed to net-zero emissions by 2050, responding to global climate goals and EU expectations.

These initiatives align with European demand for sustainable practices, positioning Vietnam as an emerging leader in green manufacturing and energy in Southeast Asia.

Compared to other countries in Asia, what differentiates Vietnam in terms of political stability, operating costs, and cultural adaptability when doing business with European companies?

Vietnam is making significant strides in sustainability to meet European expectations:

1. Sustainable Manufacturing: The country has improved energy efficiency, with energy intensity decreasing by 3.4% annually. Many manufacturers are adopting circular economy practices, aiming to reduce industrial waste by 10% by 2025.
2. Renewable Energy Growth: By 2023, Vietnam had 17,000 MW of solar and 1,000 MW of wind power, aiming for 30% renewable energy by 2030. The government offers feed-in tariffs to encourage green energy investments.
3. Environmental Regulations: Vietnam’s environmental laws align with international standards. Over 60% of factories adopted ISO 14001, and many businesses are seeking EU-style green certifications.
4. Carbon Emissions: Vietnam aims for net-zero emissions by 2050 and has committed to a 9% emissions reduction by 2030.
5. Energy Efficiency in Manufacturing: Major factories, like Samsung, are installing solar panels, and over 50% of textile factories now use energy-efficient technologies.

These efforts position Vietnam as a sustainable partner for European companies seeking greener supply chains.

What are the main advantages of working with ATEGI Vietnam?

1. As a result of all the points discussed above, in this answer, the essential advantages that any company working with ATEGI Vietnam can access can be highlighted.
2. We suggest that to avoid dispersion, these advantages are condensed into a maximum of 3 arguments

Working with ATEGI Vietnam offers several advantages:

1. Local Expertise: Deep knowledge of the Vietnamese market and regulations.
2. Comprehensive Services: End-to-end solutions, including business setup, legal, and supply chain management.
3. Strong Network: Established connections with local authorities and suppliers.
4. Cost Efficiency: Competitive pricing to optimize operations and reduce costs.
5. Sustainability Focus: Support in meeting environmental regulations and sustainability goals.
6. Cultural Understanding: Expertise in navigating local business culture.
7. Tailored Solutions: Customized services to meet specific business needs.

In short, ATEGI offers expertise, networking, and cost-effective solutions to help businesses thrive in Vietnam.