Garment-textile sector regains confidence of foreign investors
2018-10-01 16:04:32 / VTG - Vietnam Int'l Textile & Garment Industry Exhibition
Vietnam has been considered an attractive destination for investors who are keen on the garment and textile sector, thanks to benefits brought about by the bilateral and multilateral free trade agreements (FTAs) that the country has signed and is about to sign.
Looking back more than one year ago, many domestic garment firms were facing significant hardships as orders were being shifted to countries with low labour costs and tariffs, such as Cambodia, Myanmar, and Bangladesh.
However, in just a short period of time, after investing in technology and adjusting costs and inappropriate policies, Vietnam regained investors’ confidence, with a lot of large orders now returning to the country.
The Vietnam Textile and Apparel Association (VITAS) explained that Vietnam is well-known for its high quality of garment and textile products and quick delivery turnaround for sophisticated products.
Therefore, partners have returned to Vietnam after discovering that product quality and delivery times were not always ensured in other countries.
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Source From: VietnamNet
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