The article took an instance in the EU in 2020 cited by the Bangladeshi Centre for Policy Dialogue (CPD) in a research last month. Accordingly, against every 100 kilograms of t-shirts, Vietnam managed to fetch 2,157.9 USD last year, whereas it was 1,091.5 USD for Bangladesh. In 2019, the rates were going at 2,099.7 USD and 1,097.5 USD, respectively.
In explanation of these figures, Khondaker Golam Moazzem, the CPD's research director, said the quality of Vietnamese fabrics being substantially better and a section of its people having a taste for high-end products.
The use of a higher quality of fabric guarantees Vietnamese manufacturers better prices from buyers, he explained, adding that the country has a higher number of upscale product brands and retailers.
This result from a better country image, a higher ranking in the ease of doing business index of the World Bank, and the inclination towards compliance, human rights, and environmental protection practices, he said.
AK Azad, managing director of Ha-Meem Group, one of the leading local garment exporters in Bangladesh, said Vietnam makes good use of its highly available, top quality raw materials and has low lead time. Vietnam ships garments to the EU in 30 days, while it takes longer for other countries, including Bangladesh.
According to KM Rezaul Hasanat, chairman and chief executive officer of Viyellatex Group, another top local garment exporter, Vietnam is strong in manufacturing outerwear for people living in cold climates alongside high-quality blazers and woven formal shirts and trousers in the EU and US markets. The nation also produces a lot of sportswear, and their prices are very high. Almost all globally renowned sports garment brands and retailers source products from Vietnam.
Source: VNA