Apparel production at Hung Long Ltd. in Hung Yen province. (Photo: VNA)

These advantages will help Vietnam enter challenging markets such as the EU and the US, and earn higher revenues, according to the article. Khondaker Golam Moazzem, Research Director of Bangladesh’s Centre for Policy Dialogue, said Vietnam has been expanding its market share despite being a latecomer to the global garment business.

Vietnam enjoys a high ranking in the World Bank’s ease of doing business index and is inclined toward compliance, human rights, and environmental protection, the paper wrote.

According to KM Rezaul Hasanat, chairman and chief executive officer of the Viyellatex Group, another top garment exporter, Vietnamese suppliers manufacture products that are relatively complicated, while other countries are strong in basic items like T-shirts and trousers.

Vietnam produces a lot of sportswear, whose prices can be very high, Mr. Hasanat said, adding that as a result, the average price of Vietnamese garments is high. Almost all globally renowned sports garment brands and retailers source products from Vietnam, he said.