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.
The PM hailed SYRE’s plan to invest in the south-central province of Binh Dinh, calling it a wise choice given the locality’s favourable business environment and well-developed infrastructure, including an airport and deep-water seaport.
One of the project’s most notable achievements is the successful production of flame-resistant fabrics using heat-resistant fibre and specialised chemical treatments that prevent thermal penetration.
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.
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.
The Indonesian Textile Association (API) has blamed the stagnation of the textile industry for increasing influx of imports that negatively affect the local manufacturing.
A series of exhibitions in the textile and apparel sector simultaneously opened at Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City on September 25.
Vietnam is discussing the establishment of a centre for raw materials to support the textile, leather and footwear industries, signalling a bold effort for the billion-US-dollar sectors to enhance sustainability and climb higher up the global value chain.
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.
The Indonesian government on June 25 said that it will issue two protection policies, namely Safeguard Measures Import Duty (BMTP) and Anti-Dumping Import Duty (BMAD), for textiles and textile products as an effort to protect the local industry from surging imported textiles.
Tens of thousands of textile and textile product (TPT) workers in Indonesia have been laid off in the first half of this year, President of the Confederation of Indonesian Trade Unions (KSPN) Ristadi said on June 23, describing the sector’s situation as an emergency.
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.
