Vietnam's textile industry gains edge with high-value production capabilities
Vietnam has scored higher overall than China and Bangladesh in the United States Fashion Industry Association (USFIA)’s recent survey comparing the competitive advantages of textile-exporting countries to the US.
Making apparel products for export to Spain at the Ho Guom garment company in Hung Yen province (Photo: VNA)
Hanoi (VNA) - Vietnam has scored higher overall than China and Bangladesh in the United States Fashion Industry Association (USFIA)’s recent survey comparing the competitive advantages of textile-exporting countries to the US.
The survey shows that Vietnam is having better competitive edge thanks to its ability to produce a diverse range of high-value products.
Vietnam is currently leading in the capability to produce a wide variety of products quickly, which is a result of its investments in machinery and skilled labour. However, in the long term, other countries may catch up, potentially reducing this advantage.
A representative from the Vietnam National Textile and Garment Group noted that Bangladesh has been one of Vietnam's main competitors in garment-textile exports. In 2020, Bangladesh was the world's third-largest textile exporter, following Vietnam and China, with an export value of 29.8 billion USD. However, the nation has risen to the second position globally since 2022, with its export value reaching 49 billion USD. In 2023, Bangladesh reported a textile export turnover of 50.3 billion USD, up nearly 70% compared to 2020.
🎉 Meanwhile, Vietnam's exports in the sector increased from 35.3 billion USD in 2020 to 44.6 billion USD in 2022 but fell by over 10% in 2023 to 39.6 billion USD. The world's leading textile exporter, China, saw only a 3.7% increase in 2023 compared to 2020./.
Garment and textile enterprises must develop new management methods and renew their production technologies to well adapt to new challenges like small and rapid orders as well as labour shortages, experts have said.
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 North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
