Vietnam has the second lowest operating expenses among nine Asian nations and has a great potential for logistics growth.

According to a survey by Singapore-based business transformation consultant TMX, the monthly minimum operating cost for a manufacturing company in Vietnam is $79,280, compared to $366,561 in Singapore and $142,344 in Thailand.

Vietnam’s minimal operational cost is just $65,313, which is greater than Cambodia’s. The average costs of doing business in nine major possible manufacturing destinations in Asia were evaluated in the report: Cambodia, India, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

Vietnam, along with numerous other nations such as Thailand and the Philippines, has a large and reasonably priced labor pool.

While Vietnam has a large number of job openings, it has a lower number of highly trained workers in various areas, with a talent competitiveness of roughly 35 points, compared to 40 points for the Philippines and Thailand.

Warehouse rentals in Vietnam are comparable to those in eight other countries, according to the report.

In terms of logistical expenses, Vietnam was the only nation in the “high potential” group, according to the research.

It is ranked fifth in the overall nation competitiveness ranking, behind Singapore, Malaysia, India, and Thailand.

According to the research, “In terms of the business climate, Vietnam scores higher. A lower talent score, on the other hand, suggests that finding ready talent will be difficult for businesses. Such companies might think about investing in training and development”.

Source: https://e.vnexpress.net/news/business/data-speaks/vietnam-operating-costs-among-asia-s-lowest-report-4414957.html