Fashion
How Vietnam T&A sector is recalibrating for the next growth journey
The challenges are real and mounting. Competitive pressure from regional rivals such as Bangladesh and Cambodia remains relentless, while labour, once Vietnam’s biggest advantage, is no longer as cheap as it used to be. Add to that the cocktail of weak global demand, volatile freight and energy costs, geopolitical tensions and the ever-present spectre of shifting US trade policies, and the operating environment looks anything but stable.
However, instead of retreating, Vietnam seems to be choosing to retool for growth. According to reports, the industry intends to sustain its export growth in ****, aiming for around $** billion, an increase of roughly * per cent, and the Vietnam Textile and Garment Association has reportedly outlined strategies to help achieve this goal.