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Vietnam is gaining traction as the next manufacturing hub, reminiscent of China two decades ago. With remarkably low labor costs—approximately $3 per hour compared to $6.50 in China—Vietnam is appealing for producing simpler, low-tech items like textiles and footwear.
Since Trump’s first term, US imports from Vietnam surged, more than doubling from $49 billion in 2018 to $114 billion in 2022. Major brands like Nike, Samsung, and Apple are already sourcing from Vietnam, reinforcing its rising status.
To locate suppliers in Vietnam, options like Alibaba, Global Sources, and the Vietnam Textile and Apparel Association provide valuable directories. For entrepreneurs who prefer a hands-on approach, the Vietnam Expo offers face-to-face connections with factory representatives.