A new-generation free trade agreements and an increasing flow of investments into the local market are providing the foundations for garment and textile companies to diversify supply chains.
Vietnam s textile and garment giants Vinatex, Century Corp, Viet Tien Garment, and Phong Phu Corporation reported a plunge in profits in the second quarter of this year amid declining orders and high material prices.
Vietnam’s textile and garment sector is developing new competitive advantages to preserve its position as the world’s third-largest exporter. Van Nguyen spoke with Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association, on the subject.