Many small and medium-sized clothing companies in Ho Chi Minh City, Vietnam, reportedly have received only 50-60% of the orders they expected this year, with few having orders for the fourth quarter.
Pham Xuan Hong, chair of the Ho Chi Minh City Textile, Garment, Embroidery and Knitting Association, said many member companies still needed orders. “By this time last year, 50-60% of enterprises had fulfilled 80-90% of their production plans. The figure is only 25-30% this year,” Hong said.
He noted that foreign clothing importers are placing more orders with producers from Cambodia, Bangladesh and Myanmar instead of Vietnam, where production costs are 50% higher.
For the full story, see the September 2014 edition of Textiles South East Asia. Not a subscriber? Sign up HERE