Cambodia, Myanmar, and Vietnam are among the Asian countries poised to gain most from shifts in apparel manufacturing, according to a Fitch Solutions July 13 report.
As China reduces its apparel manufacturing operations and seeks to move up the value chain, such neighbouring countries have high growth potential in this area, supported by their large and growing populations, as well as low labour costs, said the report.
Those countries, as well as Bangladesh, are likely to expand their presence as suppliers to China, and grow their market share in North America and Europe at China’s expense.
