US journal: Vietnam among US top 3 buying geographies

According to Material Handling & Logistics, new report finds that 43% of US-based respondents cited Vietnam among their top three buying geographies as of early 2021, doubled from 2019.
May 08, 2021 | 16:12
German Journalist Hails Successful Vietnamese Fight Against COVID-19 German Journalist Hails Successful Vietnamese Fight Against COVID-19
German journalist praises Vietnam’s efforts in fighting COVID-19 German journalist praises Vietnam’s efforts in fighting COVID-19
Wall Street Journal: Vietnam's economy is going back to strong rise Wall Street Journal: Vietnam's economy is going back to strong rise
US journal: Vietnam among US top 3 buying geographies
Photo: Material Handling & Logistics

Material Handling & Logistics, a journal about supply chain, logistics, and material handling published an article named: "Supply Chains Turn to Vietnam, India, and Turkey for More Diverse Sourcing" on May 6.

According to the article, as businesses hope to leave the “crisis mode” of the pandemic behind them, China sourcing is bouncing back strongly. However, it has not yet returned to pre-COVID-19 levels, while alternative sourcing regions such as Vietnam, India, and Turkey are experiencing sustained levels of growth.

A traditional first choice for buyers diversifying away from China, Vietnam saw its popularity among Western buyers grow by leaps and bounds over the past few years – a trend that has remained in effect so far in 2021. The data shows a 16% year-over-year (YOY) increase in demand for inspections and audits in Vietnam in Q1 2021, which represents a third consecutive quarter of growth that had initially begun as a post-lockdown rebound in mid-2020.

US journal: Vietnam among US top 3 buying geographies
Goods transport in Chu Lai Port. (Photo: VNA)

The article notes that this growth is more than just a return to pre-pandemic levels, as Q1 2021 inspection demand has, on average, doubled compared to Q1 2019.

The inspection surge in Vietnam is in line with the findings of the global sourcing survey, where 43% of U.S.-based respondents cited Vietnam among their TOP3 buying geographies as of early 2021 (twice the percentage observed in 2019).

The appetite for Vietnam sourcing is far from satisfied and is poised to redefine the sourcing landscape in 2021: around one-third of buyers globally and 38% of U.S.-based buyers name it among countries from where they plan to buy more in 2021.

The article says Vietnam is not the only country in the region to benefit from expanded business volumes, as data on inspection and audits demand in Southeast Asia shows double-digit growth across the board, fueled by the renewed interest from American and European brands alike.

Japanese journal: Vietnam to represent bright spot in global economy in 2021 Japanese journal: Vietnam to represent bright spot in global economy in 2021

Many forecasts have outlined the nation’s economic growth in the year ahead, with a reputable UK bank forecasting that the Vietnamese economy is likely to ...

Brazilian journalists receive VUFO's Insignias for Peace and Friendship Brazilian journalists receive VUFO's Insignias for Peace and Friendship

Brazilian journalists were awarded receives VUFO's Insignia for Peace and Friendship for their positive contributions to strengthening solidarity, friendship and cooperation between the people of ...

Insights from Indian journalist on the success of Vietnam in the fight against COVID-19 Insights from Indian journalist on the success of Vietnam in the fight against COVID-19

A recent article in The Times of India explained the reasons why Vietnam can manage both the COVID-19 and the economy during the pandemic.

Valerie Mai

Insider

Travel To Phan Thiet – Mui Ne: What’s Best Things To Do During Your Visit Multimedia

Travel To Phan Thiet – Mui Ne: What’s Best Things To Do During Your Visit

Mui Ne is one of the must-visit places when you travel to Vietnam. Here are the best things to do in the region, and where to visit.
14:26 | 25/09/2021
Ho Chi Minh City Supports Foreigners Amid Pandemic Expats in Vietnam

Ho Chi Minh City Supports Foreigners Amid Pandemic

Foreigners who live in Ho Chi Minh City and face difficulties due to the complicated and prolonged pandemic have been taken care of by the local government.
14:26 | 25/09/2021
Da Nang Considers Resuming Tourism from Early October Travel

Da Nang Considers Resuming Tourism from Early October

Da Nang plans to relax social distancing measures from October 1 to allow tourist destinations, resorts and accommodation facilities to resume operation.
10:18 | 25/09/2021
Phiên bản di động