Table of Contents
How much does it cost to set up a factory in Vietnam?
So total investment cost in Vietnam including 3 major things: Certificate/Licence, Land, Construction. For example, if a client is going to build a 1-hectare factory around Ha Noi the cost will be about 1.6 million to 2.3 million USD.
How much does it cost to manufacture in Vietnam?
In 2018, manufacturing labor costs in China were estimated to be 5.51 U.S. dollars per hour. This is compared to an estimated 4.45 U.S. dollars per hour in Mexico, and 2.73 U.S. dollars in Vietnam.
How do I start a factory in Vietnam?
There are three general requirements manufacturing companies need to fulfil:
- Register the environment impact assessment or the environmental protection plan (depending on the scale of the project)
- Obtain the certificate of land use.
- Obtain the construction permit.
How much does it cost to build a factory?
Factory, 1 Story Square Foot Cost Assuming Concrete Block / Bearing Walls
| Cost Estimate (Open Shop) | \% of Total | Cost |
|---|---|---|
| Total | $2,534,500 | |
| Contractor Fees (GC,Overhead,Profit) | 25\% | $633,600 |
| Architectural Fees | 7\% | $221,800 |
| Total Building Cost | $3,389,900 |
How do I set up a new factory?
Steps that should be taken to start a new Factory
- Determining cash sales.
- Determining the type of factory you want to start.
- Determining the products.
- Determining the product pricing.
- Some more things to be kept in mind while starting a factory.
Is it cheaper to manufacture in China or Vietnam?
Vietnam’s main advantage over China is the low cost of the labor force. While both countries have an abundant and young workforce, Vietnam is still the more cost-effective choice for manufacturers looking to lower their labor spending.
How much is a house cost in Vietnam?
The average home in Vietnam costs approximately $4,500. Monthly rent varies, but the average cost is about $650, and this price often includes utilities.
How much does it cost to build a mansion in Vietnam?
The Cost of Building a House in Vietnam Places like Ho Chi Minh are quite expensive. However, you can build a modern house in the rural at a much cheaper cost. If you want to work with estimates, you can spend around 400 million to 1 billion VND. However, much bigger houses could cost from 1.2-1.5 billion VND or more.
How much capital do I need to start a business in Vietnam?
You cannot do that with an unrealistic capital of only 1,000 USD, the capital should be based on the actual necessities. What comes to shareholding, the maximum allowed foreign ownership for manufacturing companies in Vietnam is 100\%. For more information on this matter, have a look at our article about the minimum capital requirement in Vietnam.
How to set up a manufacturing company in Vietnam?
However, there are some additional licenses and special requirements for manufacturing companies. First of all, you must obtain an investment registration certificate from the Department of Planning and Investment. The investment license allows you to conduct business activities in Vietnam.
How much does it cost to start an education business in Vietnam?
The minimum capital for businesses in the education sector must be VND 20 million (approx. USD 850) per student, not including the rental fee for the business space. To get a figure for the capital, the investor must estimate how many students the business will have and base it off that number.
How to open a business in Vietnam as a foreigner?
Foreigners also tend to need assistance to open the required bank accounts. Company registration costs depend on the specific type of business you are opening in Vietnam. The Department of Planning and Investment will review your application and will consider the capital necessary for the business to be established.