Global Trade Initiatives launches sourcing service in Vietnam

Global Trade Initiatives, a well know international sourcing and manufacturing company, today, December 31st, launched a new sourcing company “Sourcing in Vietnam” in Ho Chi Minh City.

The new company aims to cater to foreign businesses looking to purchase products manufactured in Viet Nam, a country that many times previously was overlooked in favor of China and other Asian countries.

Managing Director James Snee, who brings eight years of local experience and extensive knowledge of sourcing and quality control in Viet Nam to the new company, said: “Vietnam’s future as a global leader in manufacturing is very bright. Despite the current global economic crisis and competition from other countries, the Vietnamese Ministry of Industry and Trade is stilling set an export target of USD 72 billion for 2009″.

Sourcing in Viet Nam is committed to servicing the Vietnamese market in the long term and will continue to promote its opportunity for growth by investing in local companies and their products, including trade mark coffee mugs, t-shirts, baseball caps and many others.

Products made in Viet Nam are being sought in increasing numbers around the world as the demand for quality and lost cost manufacturing continues to grow. Therefore, the company will provide value to both wholesalers and retailers who currently have limited expansion opportunities and little direct exposure to existing suppliers.

Commonly called “China plus one”, Viet Nam is currently gaining a competitive edge over China, especially in regards to the manufacturing of textiles and clothing, as Viet Nam is able to benefit from its lower labor costs compared to China. (CPV)