VN is next sourcing destination, says Barclays Capital

VGP - Retailers and suppliers are increasingly looking towards Việt Nam as a sourcing destination, according to Barclays Capital, a global British investment bank.

A survey by Barclays Capital has found that 13% of respondents to the survey said that they were looking to source from Việt Nam, which represented the same proportion that identified China and was the only country to feature significantly.

The survey also found that respondents were concerned about the rising costs in China with more than two-thirds of people identifying this as a concern although many retailers are still reluctant to move buying offices.

Richard Lowe, head of retail and wholesale at Barclays Corporate, told The Times: "A lot of other places were talked about, but Việt Nam had risen above the others, particularly for clothing”.

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