Vietnam to Overtake Bangladesh as No. 2 Garment Exporter [Yahoo! Finance]
Gap, Inc. (The) (GAP)
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Source: Yahoo! Finance
signs that its economic and political woes have taken a material toll over the past year. Vietnam is set to generate $44 billion in apparel export revenue in 2024, an 11 percent year-over-year increase from the year before and nearly $4 billion more than Bangladesh's target of $40.5 billion, Cao Huu Hieu, CEO of the Vietnam National Textile and Garment Group, the textile giant better known as Vinatex, said at a press conference in Hanoi on Wednesday. More from Sourcing Journal Beximco Withdraws Director From Bangladesh Shipping Board Beximco Lays Off 40,000 Garment Workers Hansae's Fabric Subsidiary C&T Expands Vietnam Footprint While Vietnam's year began on a softer note due to sluggish global growth, momentum picked up in the second half of 2024 after Bangladesh's uncertain future in the face of explosive student-led protests Prime Minister Sheikh Hasina's unceremonious ouster and still-percolating worker unrest drove brands and retailers to reposition orders , Cao said,
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