Between 2019-2020, Vietnam had surprised Bangladesh by positioning it as the world's 2nd largest apparel exporter. It is

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Between 2019 2020 Vietnam Had Surprised Bangladesh By Positioning It As The World S 2nd Largest Apparel Exporter It Is 1 (62.17 KiB) Viewed 59 times

Between 2019-2020, Vietnam had surprised Bangladesh by positioning it as the world's 2nd largest apparel exporter. It is high time Bangladesh started producing high-end diversified products, looked for diversified markets, trained up workers to maximize efficiency. Vietnam's lead time is shorter because of its better infrastructure of 1900 miles of coastline and 320 ports. Besides better infrastructure, Vietnam takes a shorter lead time for skilled manpower, the capacity of production and geographical location. The major textile raw material exporters such as China, Hong Kong and Singapore are its neighboring countries. On the other hand, Bangladesh takes a longer lead time due to poor logistic supports. In Bangladesh's case, the country is lagging despite government incentives and various facilities and duty-free market access to many other markets, including the European Union (EU). Another main reason for falling behind in the competition is that Bangladeshi entrepreneurs have been exporting cotton-based basic or cheap clothes for decades. T-shirts, trousers, shirts, sweaters, and jackets account for the lion's share of the total garment export earnings. 74 percent of Bangladesh's garment exports are cotton. Although there is a huge demand for synthetic fiber clothing all over the world. Around 78% of fashion wear is manmade fiber based. A good chunk of Vietnamese garment exports come from man-made fiber. Bangladesh is lagging in this regard as Bangladesh still depends on cotton." Based on the above information, state and describe THREE (3) factors that make globalization of production successful for the Vietnamese apparel industry. (Be sure, in your answer you must relate to globalization of production: Descriptions of the factors The factor that makes globalization of production successful for the Vietnamese apparel industry are Factor 1 Factor 2 Factor 3