Continuing its strong growth of 2013, the Vietnam textile and apparel industry in Vietnam increased production levels and efficiencies in the first month of 2014, according to Vinatex, the state owned textile and apparel conglomerate. The index increased by 26.9 % over the same month in 2013, making the industry the fastest growing in the nation in January.
Given January’s encouraging results, the industry expects garment exports to increase 12% in 2014.
Many large companies, several of whom have invested heavily in the sector have spent the last few months of 2013 securing orders for 2014, and many large enterprises are booked through the end of the second quarter.
The stable workforce is another factor contributing to growth. Thanks to improved salary and bonuses at the end of 2013, many companies have been successful in retaining employees.