Vietnam: A Competitive Edge in Labor Costs for Global Investors
Vietnam has emerged as a leading economic center in Asia, thanks to its strategic location, affordable labor, and progressive government reforms. Notably, the retail sector has drawn international brands seeking to reduce expenses.
Among 9 Asian countries, Vietnam has the second-lowest average cost of running a business, which results from investment-friendly policies, a supportive business environment, and low wages.
However, in spite of having the low labor cost, foreign companies might struggle to find employees because of the lack of a skilled workforce in the country. Currently, a growing number of supply managers are opting to outsource to Vietnam for its cost-effective labor.
Read the full article at: https://vietnam.incorp.asia/vietnam-labor-cost/?&utm_source=li&utm_medium=organic&utm_campaign=hr-payroll
