The South China Morning Post has reported (8 May 2019) that the current US-China "Trade war (is) pushing companies from China to Vietnam, but experts warn they may have missed the boat".
Thankfully, Triac Composites didn't miss the boat.
Triac has actually been manufacturing composite boats and other non marine composite products in Vietnam since 2014. And our Australian management team has another ten years of business experience in Vietnam prior to the establishment of Triac Composites.
Since Triac Composites' establishment in 2014, we have built up a highly skilled and competent workforce that is now well versed in working with composites.
Triac Composites also enjoys another key advantage: water frontage at our new factory located in Nha Be District, just 30 minutes from Vietnam's commercial capital, Ho Chi Minh City, Vietnam.
Water frontage allows us to produce boats and other products that would normally be too big to be transported by trucks. Water access gives us the option of launching oversize composite products, such as boats, directly onto the river or onto a barge which can then go to the nearest port.
Vietnam opens further to international trade
In terms of the macro environment, Vietnam also offers a strong international trade story.
While the US and China are raising trade barriers, the World Bank reports that "Vietnam is strongly positioned to benefit from numerous free trade agreements that are coming into force now and over the forecast period".
Meanwhile, in an article dated 12 May 2019, Bloomberg is citing a study by Standard Chartered that the "2020s are set to be the Asian decade, with the continent dominating an exclusive list of economies (including Vietnam) expected to sustain growth rates of around 7%... which typically means a doubling of gross domestic product every 10 years.
"That’ll be a boon to per-capita incomes, with Vietnam’s soaring to $10,400 in 2030 from about $2,500 last year, they estimate..."
Email Triac Composites now
If you are considering having your products manufactured from composites, regardless of the industry (eg marine, transport, construction, mining etc) email info@TriacComposites.com
Or, if you have a general enquiry, please email info@TriacComposites.com
Trump's trade war turns Vietnamese furniture maker into a winner, by Michelle Jamrisko and Nguyen Dieu Tu Uyen, 11 April, 2019, Bloomberg
Vietnam exports to US rise 28 pct as China-US trade war intensifies, by Dat Nguyen, Vietnam Express, 29 May, 2019