Vietnam needs breakthrough solutions to upgrade the value chains of the garment and footwear industries with the focus on achieving self-sufficiency in raw materials to increase added value and develop sustainably.
Statistics of the General Department of Customs showed that the export of garments fell by 12.9% to 27.7 billion USD in the first ten months of this year, and that of footwear by 18.3% to 16.4 billion USD.
Given an unstable global economy with strong consumer demand for transparency and sustainability, Vietnam's textile-garment industry is facing mounting difficulties, prompting a need to transform for growth.
The resumption of supply chains - often likened to the "lifeblood" of commercial flow, has created a strong momentum in trade activities, helping promote Vietnam's imports-exports activities with many countries after a long period affected by the COVID-19 pandemic.
There remain difficulties for enterprises in the last months of this year, requiring them to be proactive and flexible to finish the year with strong export performance.
Greening the garment industry is essential for the sector to fully exploit opportunities arising from free trade agreements and participate deeply in the global value chain, according to the Vietnam Garment and Apparel Association (VITAS).
Cambodia's exports of garment and accessories from Cambodia rose by 3.3 percent to 5.02 billion USD in the first eight months of 2021, compared to 4.86 billion USD in the same period last year, the Khmer Times cited statistics from the Ministry of Commerce as reporting.
The garment industry was suffering an unprecedented crisis due to COVID-19, but the pandemic also brought significant opportunities for Vietnam to become the world’s face mask factory.
The Ministry of Industry and Trade has issued a decision on investigating anti-dumping duties on polyester filament yarn (PFY) with HS codes: 5402.33.00, 5402.46.00 and 5402.47.00 originating from China, India, Indonesia and Malaysia.
The EU-Vietnam Free Trade Agreement (EVFTA) is expected to create solid opportunities for Vietnam to expand its export markets in the time ahead, especially in terms of the garment and footwear industries.
Vietnam’s textile and garment exports to the US reached approximately 3.14 billion USD in the first quarter of this year, marking a year on year increase of 13.2 percent.
Vietnam’s garment-textile industry has already taking possible Brexit influence into accounts while conjuring up measures to weather its possible negative impacts.
A grave labour shortage in Laos has spelled doom for the country’s garment industry since 2012 after a robust growth during 2003-2011, according to the Association of the Lao Garment Industry.
The Asia Fashion Summit 2015 (AFS 2015), and an international exhibition on fashion and materials for the garment industry, are scheduled to take place in Hanoi in the next month.
