Related Keywords: cut costs, drafting legal amendments. domestic garment producers, enjoys favourable treatment from US and EU, join foreign supermarket chains, reduce administrative burdens, regional rivals benefiting preferential policies, under pressure in face of fierce competition, Vietnam local garment exporters, VN Ministry of Industry and Trade
Vietnam local garment exporters with the rise in wages for workers and logistics costs are under pressure particularly in the face of fierce competition from regional rivals like Bangladesh, Myanmar and Cambodia greatly benefiting from their governments’ preferential policies that included tax cuts and currency devaluation to boost exports. They have also enjoyed favourable treatment from the US and the European Union (EU), according to the Ministry of Industry and Trade.
