What are important specifics to keep in mind when looking for a sourcing partner in Vietnam?

Finding the right sourcing partner to work with can be a complex and stress-inducing process. It is important for a company to clearly define what specifically they are looking for in a sourcing partner and what they expect from the area where that is located. Important specifics for most companies would include:

• What type of products are being sourced;
• The level of experience required (technical, etc.);
• Capital ability of the potential partner;
• Relevant state/local legislation;
• Existence/quality of supporting industries (how will the supply chain work?); and
• Quality of infrastructure/transportation systems in the area where the potential partner is located.

Additionally, a foreign company must decide on its entry strategy into Vietnam, as well as what its long-term strategy will be.