Why did Yuyuan Shoes Factory move to Vietnam?

Overcapacity, insufficient market demand, rising labor costs and so on.

According to Baidu Aigou. com, recently, the news about the equipment dismantling of Yuyuan Shoes Factory has aroused widespread concern. It is understood that the factory was established in 1994, which is an enterprise mainly producing slippers. However, at the beginning of March this year, Yuyuan Shoe Factory officially announced the suspension of production, and its official website has also been closed. According to local media reports, the reason behind the equipment dismantling of Yuyuan Shoes Factory is that the factory has faced many problems such as overcapacity, insufficient market demand and rising labor costs in recent years. At the same time, due to poor management, the debt problem of Yuyuan Shoes Factory became more and more serious, which eventually led to the closure of the factory and forced the relocation of equipment. Therefore, Yuyuan Shoes Factory moved to Vietnam because of overcapacity, insufficient market demand, rising labor costs and so on.