Hanesbrands Vietnam Company Limited (Vietnam)

SC was founded in Dec 2007 in Hung Yen Province by HANESBRANDS HOLDINGS (MAURITIUS) LIMITED. The subject is specialized in manufacturing apparel products such as underwear, T-shirts, socks, casual wear. It mainly imports kinds of fabric and auxiliary materials from China, Thailand, Hong Kong, Dominica, India, Italy, Indonesia ... All the subject's products are exported to the USA, Canada, Australia and EU. From the last months of 2022 until now, due to the gloom of the global market, exchange rate has fluctuated, bank interest rate has been high, logistics cost has not improved...... making the goods of Vietnam's textile and garment industry less competitive compared to other exporting countries. Specifically, in the first 8 months of 2023, Vietnam's textile and garment export turnover only reached USD 22.5 billion, down 14.4% over the same period last year. However, there have appeared some signs of recovery and opportunities for development. Textile and garment export turnover in August 2023 reached USD 3.4 billion, the highest in the last 11 months and the 4th consecutive month that export turnover increased compared to the previous month. In particular, exports to the USA market have shown signs of recovery with turnover in August 2023 reached USD 1.5 billion, up 2.3% compared to the previous month. Recently, the USA has upgraded its comprehensive strategic partnership with Vietnam as a good opportunity for exporting goods in general and textiles and garments in particular. To make good use of these opportunities in the coming time, the textile and garment industry needs to focus on improving labor productivity, increasing product value, enhancing initiative, creativity and in particular, "green" standards are a plus for businesses to approach and take the initiative in contract negotiations.According to published information, the subject currently needs to recruit about 300 garment workers.