Why Import from Vietnam

Thapecon Products is looking for global agents and exclusive partners in different global regions. Our product range is expanding and so is our customer base.

Demographics

Vietnam demographics and political environment make it a perfect partner to any foreign market place. In the recent years the Vietnamese people have invested heavily in educating their children and now it is common for children to be university educated. Unlike China English language skills are prized in the society and many parents spend 30% of their income on english after school programs for their children.

Vietnams Population of nearly 100 million people and its young age demographics are very supportive of a global expansion into the new industries of the future. It is positioned to grow into the global manufacturing and IT hub of the world. The Vietnamese people are hungry for development and naturally industrious with most people having at least on family member who is self employed.

From a young age children in Vietnam are taught the value of money and that working in honest production is the way to succeed. Nobody here thinks they should be cared for by the state or by other peoples labour.

Government and Rule of Law

The Vietnamese government is investing as much as 7% of its GDP into infrastructure and wants to position itself to rise with the global demand for cheap labour and products in a stable legal environment. Companies will not invest on shifting sands and so Vietnam has laid the legal foundations for a global investment money find friendly shores. With this aim the Vietnamese Government has committed to double its shipping ports and industrial land use in the next 3 years until 2024. Building and construction is everywhere in Vietnam, it is benefiting now from the years of investment in educating its young people.

The rising middle class in Vietnam means that the average person can afford a Mobile phone and a Motorbike now but in the next few years, appetites will desire a car or two and a bigger house or a single family house. This has meant an increase in the governments legal systems need to he without corruption as it works to the increasing wealth of the middle class and their demands for equity under the law. The Vietnamese government has been able to respond to these demands and has made big inroads to equality between the sexes under the law.

English speaking skills

You can not make a contract with anyone you can not understand. The cultures of Vietnam are more similar to the cultures of the west than many other asian nations. This similarity in thinking, custom and language makes it easy to have profitable business relationships here. The Vietnamese customs teach people to have great respect for teachers, wealthy people and guests. They also were at war with china many years ago and rejected the Chinese written language symbols many 100's of years ago. This means that they are used seeing words made out of the same Alpha Numeric characters that the west would use and so learning english is easier for them than it is for the Chinese. It also means that computer keyboards are a lot more effective even in their language.

Geographical and Resources

Vietnam is located at the bottom of China and has more costal access per head of population than most countries. It has some of the worlds biggest delta plains and a tropical climate that lets anything you plant thrive. All this growing land is its golden inheritance, making Vietnam one of the Largest rice exporters in Asia. Vietnam has food growing everywhere.

It also has more than 2000 kms of coastline that provides a bounty of natural resources including natural oil and gas resources. Vietnam is heavenly invested in exploiting these for the benefit of its people.

Vietnam also has forests and newly found gold mines that are still underdeveloped, leaving lots of room for future growth.

Social Welfare and Taxes

The working population in Vietnam is required to put about 32% of their income into social welfare schemes and this will lead to a growing pool of funds available for the kind of industrial expansion that they are gearing up for. The burden of the government to pay for health care is a lot smaller in Vietnam because of the Viennese culture of great respect for their elderly means that the family actually looks after elderly people with love in their home. To help this tradition the government does not require taxes from families who are caring for their elderly.

Taxation of individuals is very low with almost no land tax or home ownership tax. Individuals pay tax on a sliding scale that goes from 5% upto about 20%. At the lower end there is zero tax up to a living wage of about 8 Million and that is actually more than most factory workers earn. This means that to be an investor in land in Vietnam does not require the investor to make a profit on the land while they hold it. Encouraging local people and businesses to plan for future expansion today and buy land with any idle capital.

The government now has strong working regulation that are in line with western values unlike many other cheap labour countries of Asia. It has a maximum working hour week, with required breaks mandated, maternity leave and minimum wages. The common people have the political power to make complaints against any employer who tries to force them to do more than is mandated by the law. This makes the supply chain risk to international companies buying from Vietnam a lot lower than in asian countries. Just one bad story about sweat shop labour forces can cause boycotts and great losses for a company who seeks first only the cheapest price

A rising Tide floats all boats, any company who starts buying products from us now will be positioned to take advantage of Vietnam's rise in the coming decade. Call us today and let us know what products you even if we do not make it we can help you find it.

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