Logistics is developing fast as overseas companies target Vietnam for lower labor costs and expansion opportunities. The industry had over USD $4bn invested in 2019, up 15% over 2018. Asian manufacturers have recognized the value in a skilled, youthful workforce and wages less than half China pays for manufacturing staff. Vietnamese workers represent far greater economies than those in Malaysia, Indonesia, The Philipines and Thailand. Japan notably is ramping up investment.
Although obstacles exist such as poor infrastructure, or often complex governmental procedures, the industry is one of the fastest growing in Vietnam and accounts for over 5% of GDP.
Logistics is developing fast and companies often need to expand office areas in a very short time. To avoid this problem, companies tend to first look for newly built buildings with high vacancy. The ideal is a new, reliable and functional office building offering reasonable rental packages with warehousing nearby and great are connectivity. Where leadership is based is important to ensure all parts of the operation work effectively. Head offices are ideally adjacent or close to the warehouse or within a short walk; connected is the ideal.
What is an essential is easy airport access. Though difficult to find any office towers near Noi Bai, the West and districts My Dinh, Nam Tu Liem, or Tay Ho being close to new, fast highways makes airport travel time around 40 minutes. Hanoi has many options for Logistics companies and Leadvisors Tower is a great example.
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