After seeing exports fall in 2023 for the first time in decades, Vietnam is ready to turn the ship around.  During the year, the industry’s turnover declined by 10%, making it the worst year in more than 30 years of exporting (except for during the pandemic lockdowns).

In 2023, Vietnam National Textile and Garment Group (Vinatex), the nation’s largest garment manufacturer, saw its profit plummet 60% to $15.49 million, which was its worst scenario.

Now Vietnam is ready for a rebound.