Vietnam could be one of Bangladesh’s strong contenders in the field of garment manufacturing and export but there seems a lot to learn from the former for Bangladesh, especially in how to tackle the challenges brought by the COVID-19 pandemic.
Even as Bangladesh’s economy had to endure considerable impact of the pandemic, Vietnam is better off and did not lose much business even during the peak of coronavirus pandemic, reportedly maintained leading garment manufacturer and Chairman of Youngone Corporation, Kihak Sung, who has manufacturing units both in Bangladesh and Vietnam, as per media reports.
The Chairman of Youngone Corporation reportedly made this observation taking part in a discussion organised jointly by the Policy Research Institute (PRI) and France Bangladesh Chamber of Commerce and Industry (CCIFB), while maintaining that compared to other parts of the world, Vietnam was able to manage well impact of COVID-19 on its production, export and logistic sectors.
Further, Kihak Sung reportedly said that due to the pandemic he had to lose around 25 per cent business this year with the company’s manufacturing units in Bangladesh incurring most of the losses compared to those in Vietnam, which he attributed to lesser orders being cancelled by global buyers in Vietnam vis-à-vis Bangladesh.
