According to Q1 / 2021 report from QIMA – a provider of supply chain assurance solutions, supply sources from Vietnam are experiencing a sustainable growth. QIMA’s report is based on a survey of more than 700 companies with international supply chains, looking at supply chain highlights in the first quarter of 2021 and emerging trends that may affect the search landscape. global supply in the coming months.
The data shows that inspection and audit demand in Vietnam in the first quarter of 2021 increased by 16% year-on-year, representing third consecutive quarterly growth as a rebound from the blockade aimed at control the spread of the COVID-19 epidemic by mid-2020. Notably, this growth is not just the recovery of the COVID-19 pre-pandemic level, because of the need for audits and inspections in the first quarter of 2021. average doubled over the same period in 2019.
The increase in inspection and auditing in Vietnam is in line with the results of a global sourcing survey, in which 43% of US-based firms said Vietnam is in the top 3 locations where They prioritize buying in early 2021. About 30% of global buyers and 38% of US buyers name Vietnam among the countries they plan to increase their purchases in 2021.
The above paper clearly states this shows that Vietnam is not the only country in the region that has benefited from business expansion, as data on inspection and audit needs in Southeast Asia shows the level of 2-digit growth, fueled by the return of interest from American and European brands.
Source: Vietnam News Agency