Wayne Vietnam Co., Ltd., a 100% foreign-invested company, specializes in manufacturing socks, all of which are exported to the Japanese market. Despite facing many market challenges in 2023, particularly in the textile and garment industry, the company has managed to maintain its order volume and ensure stable revenue, producing approximately 3 million products in the past six months.

The company expects a more positive outlook for the remaining months of the year, as it has secured enough production orders through the end of the year. To cope with market fluctuations, Wayne Vietnam is implementing a range of measures to ensure stable employment for over 200 staff members.

Looking ahead, Vietnam's textile and garment industry is expected to continue facing significant difficulties in 2024, influenced by both global and domestic economic factors, which are likely to reduce product demand. Factors such as the rising exchange rate between the US dollar and the Japanese Yen, increased production costs (including electricity prices, transportation fares, and regional minimum wages), and new export market regulations may force many businesses to accept orders outside their core competencies to maintain stable operations. However, for many businesses, these challenges could serve as a catalyst for positive transformation and adaptation./.