Analyze An Article – Article Example
A number of reasons make Vietnam a trend and best for manufacturing industries more especially textile industry. It has invested in human capital and the lager population is made up of productive youths aged between fourteen and fifty-four, this has provided cheap labor force and competition for talent that is arising in the labor market, this make Vietnam the best as businesses are looking for low cost in their production more output in terms of profit.
Vietnam has also put a considerable amount of its capital and intellectual foreign investment in the textile and apparel sector. Due to its advanced stages in the textile industry with the skilled workers and business infrastructure that can support a large scale manufacturing investment, it has attracted more foreign investors.
The country has got into business agreements with the other neighboring countries; this has made it be able to enjoy the advantage of market prices globally. It can considerably export her textile products to the rest of the world up to including U.S that limited import of other goods from other countries. The U.S has now given Vietnam free trade access in a bid to try and balance trade in textile with china that has substantially higher prices on fiber than the global market.
With the rise in population of up to 92 Million, there is rise in the domestic consumption of the textile goods in Vietnam. Due to high demand of the goods, most companies local and foreign aims at shortening their supply lines with minimal cost possible and quickening response time by producing a good with a ready market. With the highest technology and the labor force available, I would wish to manufacture my course garment in this county because I believe it will be of the best quality and design ever.