Latest News about input material
With many local textile-garment makers unable to confirm when they can resume operations, many of their foreign business partners are switching orders from Vietnam to other countries.
In mid-March, when Chinese factories began resuming operation, material supplies to Vietnamese textile and garment enterprises were restored.
Hundreds of enterprises, both Vietnamese and foreign invested, are increasingly concerned about supply of components from China.
It is becoming more difficult for textile and garment companies to recruit workers as
labor costs keep increasing and workers quit to move to higher paying jobs. The only solution is changing the production method.
The US-China trade war is giving opportunities to Vietnam to diversify material supply sources, increase imports from the US to reduce the trade surplus with the country, and reduce the trade deficit with China.
Chinese FDI is rushing into Vietnam, bringing huge capital. However, Vietnam has been told to be careful about using this capital.