It is really ironic that even a manufacturing base that reported zero Covid-19 deaths is suffering because of buyers’ reaction to the pandemic and the mayhem that followed. Exporters in Vietnam too are very worried as apparel export value in the first four months of this year dropped by 6.6 per cent Y-O-Y to US $ 10.64 billion. Manufacturers fear if the pandemic continues longer it may lead to winding up operations, bankruptcies and large scale unemployment. New collaborations and strategic partnerships are now critical and driver for growth, view industry experts to Team Apparel Online Vietnam.
With global industry business having badly hit, Vietnam’s garment and textile industry too has seen large scale cancellations of apparel orders from US and EU. But not to be let down, many apparel factories in Vietnam have switched to new product categories like masks and personal protective equipment (PPEs) and earning huge profits, corroborates Nguyen Van Tuan, Chairman, Vietnam Cotton and Spinning Association. However, he added that it has not been as easy for the spinning sector in the country. To this, Greg Fleming, COO, Elise Fashions is of the view that good foreign investment needs to be made in spinning and weaving sector as ‘skill set’ has never been an issue in Vietnam, and will never be.