US firms interested in Vietnamese supply chain

Cargo being handled at Cát Lái Port in HCM City’s District 2. Việt Nam saw its popularity among Western buyers grow by leaps and bounds over the past few years. — VNA/VNS Photo

The report surveyed more than 700 businesses with international supply chains.

The data shows a 16 per cent year-on-year increase in demand for inspections and audits in Việt Nam in the first quarter of this year, which represents a third consecutive quarter of growth that had initially begun as a post-lockdown rebound in mid-2020, the article cited a report from QIMA, a provider of supply chain compliance solutions.

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 appetite for Việt Nam sourcing is far from satisfied and is poised to redefine the sourcing landscape in 2021: around a third of buyers globally and 38 percent of US-based buyers name it among countries from where they plan to buy more in 2021.

The website says Việt Nam was not the only country in the region to benefit from expanded business volumes, as data on inspection and audits demand in Southeast Asia show double-digit growth across the board, fueled by the renewed interest from American and European brands alike. — VNS