Vietnam reliable alternative for buyers seeking stable supply chains

However, challenges persist. A recent increase in domestic electricity prices, effective from May 10, has raised production costs, particularly affecting yarn manufacturers with narrow profit margins.

Companies must navigate these cost pressures while capitalising on emerging global opportunities.

Domestic garment production in Vietnam also remains robust, as evidenced by the industrial production index (IIP) and labour indices consistently showing upward trends without any contraction since the the year began, a news agency reported.

According to the customs department, the country's textile and garment exports reached $8.69 billion in the first quarter this year, with the US accounting for 43.6 per cent of this figure. April saw a 15-per cent year-on-year increase, totalling $3.64 billion.

ALCHEMPro News Desk (DS)