Vietnam’s textile and apparel exports to countries negotiating the TPP agreement in the first five months of this year increased 69.66 percent compared to the same period last year.
Vietnam’s textile and apparel exports to countries negotiating the Trans-Pacific Partnership (TPP) agreement in the first five months of this year increased 69.66 percent compared to the same period last year.
The majority of the exports were sent to the US with over 4 billion USD, equivalent to nearly 50 percent of the total earnings, marking a 53 percent increase year on year. It was followed by Japan and Canada with export values of 1 billion USD and 207 million USD, respectively.
According to the Vietnam Textile and Apparel Association, the sector’s export turnover in the first six months was 12.18 billion USD, up 10.26 percent compared to the same period last year. The industry is expected to bring home 28 billion USD this year.
TPP negotiations began in 2005 and now include 12 countries, namely Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Singapore, Peru, the United States and Vietnam.
The pending TPP, expected to be completed this year, will create an important momentum for economic ties between Vietnam and TPP member countries.
The agreement would create a free trade area with a population of 800 million, accounting for 30 percent of the global trade turnover and nearly 40 percent of the world economic output.-VNA
Vietnam has become the biggest exporter to the United States in the Southeast Asian region with a record trade surplus of almost 25 billion USD in 2014, surpassing even Malaysia and Thailand.
Textile and garment exports are set for a boom this year, according to the Vietnam Industrial and Trade Information Centre (VITIC), a Ministry of Industry and Trade agency.
The Vinmart Supermarket Joint Stock Company of the country's leading property firm Vingroup has signed a contract to buy a 100 percent stake in the VinatexMart supermarket chain.
The Indian Synthetic and Rayon Textiles Export Promotion Council (SRTEPC) has announced a tie-up with lingerie maker Anh Khoa Production and Trading Co. Ltd.
Though exports for textile and garments in the first quarter (Q1) of this year reached 4.75 billion USD, industry insiders said the figure was worse than forecast, the Hai quan (Customs) newspaper said.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
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.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Dung underlined several key objectives, including a comprehensive review of the legal framework governing SOEs, and called for updates that reflect international standards and support modern, transparent governance.
While the US market has become more difficult to access due to new tax policies, Australia could play the role of a trade cushion, helping to reduce shocks and maintain export momentum for Vietnam's shrimp industry.
Vietnam Cycle Expo 2025 will coincide with the Vietnam Sport Show 2025, an international exhibition on sports and outdoor entertainment, expected to attract more than 20,000 visitors in the three-day event.
A worker irons garment for export (Photo: VNA)
