The impact of prolonged factory shutdowns in Vietnam is likely to be worse

The impact of prolonged factory shutdowns in Vietnam is likely to be worse than many apparel and footwear retailers have planned for and may last well into 2022, says Wall Street research firm BofA Securities. Recovery in Vietnam will be more gradual than retailers are anticipating and businesses are being too optimistic about turnaround times. Reopening of the economy in Southern Vietnam—where many apparel and footwear producers are housed—has been moving much slower than in the north.