Vietnam offshoring and outsourcing contract manufacturing services are a late comer to the global supply chain destination stage.

Due to an emergence of a wide degree of sourcing arrangements within, and with, the country, Vietnam’s contract manufacturing opportunities are developing at a rate that was not on the global radar ten to fifteen years ago.

While Vietnam’s wages can be as low as 1/20th of Taiwan’s wages, its labor rates are still not as competitive as China’s. Meanwhile, Vietnam has devised a national strategy for its IT industry that is much different from those strategies adopted by Singapore and South Korea in the 1960’s and 1970’s

Vietnam was ranked in the Top 5 in the Top 50 emerging outsourcing destinations survey released Monday by CyberMedia and Tholons research group.

The survey was based on six criteria: the ratio and quality of human resources, costs, trade promotion, infrastructure, risks and quality of life.