The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
The minister called on the USABC and the US business community continue to support Vietnam in the process of negotiating a reciprocal trade agreement with the US, and coordinate to promote the investment and business potential and opportunities in Vietnam to US partners.
By the end of May, the total textile and garment industry's exports reached nearly 16.8 billion USD, including nearly 15 billion USD from exports of textiles and garments. Exports to key markets such as the US, Japan, and Europe all saw double-digit growth.
Supported by 17 next-generation free trade agreements (FTAs) already in effect, the industry is poised for further growth, targeting 48 billion USD in export revenue this year.
With rapid digital transformation, online sales channels are becoming an essential strategy for businesses aiming to thrive in an increasingly competitive market.
Positive signals from major import markets have helped domestic enterprises to boost exports in the first ten months of 2024. The export activities remained a prominent bright spot of the Vietnamese economy.
Textile and garment exports are likely to hit 44 billion USD this year, said Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang.
Binh Duong province, a key industrial hub in southern Vietnam, shipped 22.5 billion USD worth of products abroad in January-August, a year-on-year increase of 11.3%.
The majority of garment businesses have received orders to be fulfilled until September-October and even beyond. However, prices continue to be impacted by the lingering market effects of 2022-2023.
Digital transformation is considered a “key” to help Vietnamese garment and textile enterprises expand while meeting sustainable development, heard a recent conference held in Ho Cho Minh City.
The Saigon Textile & Garment Industry – Fabric & Garment Accessories Expo 2024 (Saigontex - Saigonfabric 2024) kicked off in Ho Chi Minh City on April 10.
Textile and garment exports posted a year-on-year increase of 15% in the first two months of 2024, a result partly attributed to the industry’s gradual adaptation to the green production requirement of import markets.
Suffering from declined overseas shipments, export businesses in some industries now need more assistance from the Government to navigate difficulties and challenges, insiders have said.
Experts say three years after it came into effect, the Vietnam-UK Trade Agreement (UKVFTA) has opened many opportunities for businesses in the textile, garment, and leather - footwear sectors to boost exports and increase value.
The Vietnam Trade Office in India arranged a pavilion to introduce Vietnam's textile and garment products at Intex South Asia, an international textile sourcing show opened in New Delhi on December 7.
Vietnam Textile and Apparel Association (VITAS) has set a target of earning 44 billion USD from textile and apparel exports in 2024 as positive changes have seen from the last quarter of this year.
The focal tasks for the remaining months of 2023 are to maximise all market opportunities, optimise production to increase productivity, and fulfill even small, discerning orders.
