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Vietnamese garment sector finally turns optimistic
15
Jun '09
The Vietnamese textile and garment sector is filled with euphoria as there has been a slowdown in the falling negative growth of exports from the industry in April, which fell by only 2 percent year-on-year.

This has made them optimistic for the remaining few months of 2009. For instance, Garment 10, the Hanoi based garment manufacturer has orders in hand for completion in August and September.

The Managing Director of the company was quoted as saying that exports had grown by 15 percent in the first four months of 2009, when compared with the same period of last year which reached US $25 million.

The company has been scouting for new buyers and in the process has received a big order to supply 800,000 pieces this year to a Denmark based company and also has a order to supply 7,000 suits per month to a Japanese company.

Garment 10 has also reduced its dependence on the US markets and now just exports 35 percent from a high of 50 percent in the previous year. Export sales have also increased to markets of Asia, Japan in particular.

Since the last few months most companies are facing an acute shortage of labour as workers did not return after the Tet festival in January or have shifted to other sectors which offer better salaries.

Fibre2fashion News Desk - India

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