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Vietnam garment exporters feel impact of global slump
Jun '12
Several apparel manufacturers in Vietnam are feeling the impact of decreasing demand in international markets over the last few months.
This year, garment exporters have failed to repeat the steady growth observed for the last few years.
For example, BH Textile Company in Ho Chi Minh City’s Go Vap District, which normally had contracts signed for the full year, has contracts signed only till August this year. The company has already reduced the number of workers at its factory to 120 from the earlier 500.
Another company, Nha Be Co (NBC), said export orders from its traditional markets have decreased by 15 percent year-on-year during the first six months of the current year.
According to the Vietnam Textiles and Apparel Association (VITAS), export orders for clothing sector have dipped by over 10 percent this year compared to the same period last year.
In view of declining exports to traditional markets, some Vietnamese garment companies are promoting their products in Russia, while some others are expanding in the Middle East and Africa.
One particular company has opted for the franchise route to sell its products in the foreign markets.

Fibre2fashion News Desk - India

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