Vietnam textile industry orders hit by African competition

By Anh Minh   December 10, 2019 | 01:59 pm GMT+7 VnExpress

Vietnam textile industry orders hit by African competition
Women work at a garment factory in northern Vietnam. Photo by Reuters.

Vietnamese textile manufacturers are seeing orders decline with buyers moving to others, cheaper developing countries.

Normally, by the end of a year they would have enough orders for the whole of the following year, Nguyen Van Thoi, chairman of TNG Investment and Trading JSC, which makes garments, said.

But this year many businesses have said they do not have enough orders for 2020, with some reporting a 20 percent drop in orders from last year. Besides, many have not signed long-term contracts for products, only monthly or quarterly, he said.

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