Vietnam's apparel industry braces for cost surge as tech giants move in

© Alexey Novikov

Vietnam may be picking up the benefits of the China–US trade war, but apparel makers are slowing their investment in the country as labour costs rise and tech giants start to eye the country. Wages in Vietnam have risen more than fourfold in the past decade, and the government requires all manufacturers to raise wages by more than 10% each year. The cost of land is rising too – the market is a “bit overheated”. Vietnam has also come to Trump’s attention and ...