Oxford Economics forecasts CLMV’s garment sector prospect

The textile industry in the CLMV (Cambodia-Laos-Myanmar-Vietnam) has come under near-term threat from the global COVID-19 outbreak, especially for key producer Cambodia.

Singapore’s Business Times newspaper has quoted Sian Fenner, lead Asia economist at Oxford Economics, as saying that lockdowns adopted to contain the spread of the virus have had a severe impact on manufacturing and exports in the four countries.

The textile industry was singled out as a sector badly hit by the pandemic as more than 55 percent of the materials that go to clothes manufacturing in Cambodia, Myanmar and Vietnam come from China where factories were shuttered in early 2020.

In full: https://en.vietnamplus.vn/oxford-economics-forecasts-clmvs-garment-sector-prospect/182940.vnp

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