Vietnam’s textile and garment industry aims to achieve 47–48 billion USD in export turnover in 2025, according to Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS).
Vietnam's textile and garment products have been exported to 104 countries and territories this year – a record number, said Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang.
It is necessary for domestic enterprises to switch to green textile and garment production in an effort to achieve sustainable development goals and cope with the gradual loss of Vietnam’s cost advantage, insiders have said.
Foreign direct investment inflow from China to Vietnam is expected to rise as China is to reopen its doors and resume flights between the two countries, according to Agribank Securities Company (known as Agriseco).
Hanoi recorded year-on-year growth of 8.89% in gross regional domestic product (GRDP) in 2022, higher than the target of 7 - 7.5%, according to the municipal Statistics Office.
The textile and garment industry's local procurement reached a record high rate of 57 % in the first eight months of this year, approaching the target of 60% set for 2025, Le Tien Truong, chairman of the Vietnam National Textile and Garment Group (Vinatex), said.
After a year full of difficulties caused by the COVID-19 pandemic, many enterprises are still trying to provide their workers with rewards and gifts for the Lunar New Year (Tet) festival, to encourage their spirit and enhance bonds with the enterprises, helping to quickly restore production and maintain jobs and incomes for their employees.
Garment products from Taiwan (China) will be showcased at the Taiwan Textile Roadshow held in Hanoi from October 6-7 at the Hanoi International Exhibition Centre at 91 Tran Hung Dao Street.
The proportion of textile and garment factories that have closed due to the COVID-19 pandemic has reached 30-35 percent, according to the Vietnam Textile and Apparel Association (Vitas).
Vietnam’s textile and garment exports grew 9 percent to over 9.5 billion USD in the first four months of 2021, with shipments of cord fabric and fibre and yarn increasing 35.7 percent and 43.4 percent, respectively, year-on-year.
The Vietnam Textile and Apparel Association (VITAS) is committed to promoting the sector’s sustainable development with the aim of raising the living standards of its employees under the UN’s Sustainable Development Goals (SDGs).
The effectiveness of free trade agreements, especially the EU– Vietnam Free Trade Agreement, has helped to increase export orders for textile and garment enterprises in Vietnam, leading to high recruitment demand in the first and second quarter, according to Navigos Group, a recruitment service provider in Vietnam.
Garment products from Vietnam and Taiwan (China) will be showcased at the Vietnam-Taiwan Textile and Garment Industry Exhibition held in HCM City from April 26-27.
Binh Duong province is pushing ahead with the development of supporting industries to increase the use of local content in manufacturing to reduce costs.
Hanoi expects India to become a new source of materials for its textile and garment industry and Vietnam at large following the COVID-19 outbreak which has been causing a shortage of supplies.
Most types of yarn and woven and knitted fabrics originating from India will be exempt from customs duties in Vietnam from January 1, 2019, under the ASEAN – India Trade in Goods Agreement (AITIDA).
Vietnam recorded strong growth in imports of materials for the textile and garment industry in the first nine months of 2018, according to statistics by the Ministry of Industry and Trade.
A wide range of machinery and business solutions for textile and garment manufacturing chains are on display at the 17th Vietnam International Textile & Garment Industry Exhibition (VTG 2017) in HCM City.
Textile and garment businesses of Vietnam hold considerable opportunities to sell their products to the European Union (EU) via the world’s leading online shopping channel Amazon, foreign experts said at a seminar in Hanoi on May 10.
