Many key Vietnamese enterprises have proactively prepared scenarios to adapt to the evolving landscape, focusing on internal restructuring and aligning with high market standards to ensure sustainable exports.
As of April 15, Vietnam’s total textile and garment export turnover reached 1.8 billion USD, representing an 8.7% increase compared to the same period in 2024.
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.
Vietnam’s garment and textiles export is projected to hit nearly 44 billion USD this year, positioning the country as the world’s second biggest exporter, only behind India, said General Director of the Vietnam National Textile and Garment Group (Vinatex) Cao Huu Hieu.
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 Saigon Textile & Garment Industry – Fabric & Garment Accessories Expo 2024 (Saigontex - Saigonfabric 2024) kicked off in Ho Chi Minh City on April 10.
Enjoying a rise in orders, the garment and textile sector is optimistic about the completion of its target of earning 44 billion USD in export revenue set for 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.
Garment and textile companies have been struggling to overcome prolonged difficulties due to the decline in demand in their main textile import markets, according to the Vietnam National Textile and Garment Group (Vinatex).
To secure sustainable export to the EU, Vietnamese enterprises must adopt green production and apply high technology to meet the EU’s strict technical and environmental standards, heard a seminar held in Hanoi on September 19.
Vietnam is the largest cotton importer of Australia with 38.8% of the market share, according to the Australian Trade and Investment Commission (Austrade) which predicted that Vietnam will hold this position in following years.
Textile and garment businesses in Vietnam are taking steps to switch to green production to meet partners’ demand and achieve sustainable development, the Cong Thuong (Industry & Trade) newspaper reported.
Textile and garment exports may reach 47 - 48 billion USD in the positive scenario for 2023 and 45 - 46 billion USD in the lower-case scenario, said the Vietnam Textile and Apparel Association (VITAS).
The textile and garment sector has predicted that difficulties will remain for its exports in the first half of 2023, but there are also silver linings it can pin hopes on.
Domestic businesses showed positive signs of recovery, exports increased and supply chains resumed in the first months of this year, experts have said.
Vietnamese goods are benefitting from better quality, diverse designs and competitive prices to establish their place on the domestic and global markets.
Many Vietnamese businesses have won preference from consumers thanks to their product quality and active participation in major events to further promote domestic goods.
Vietnam reported a year-on-year surge of 23.5 percent in exports of textile and garment to earn 18.7 billion USD in the first five months of this year in the midst of lingering market uncertainties coupled with rising prices of inputs.
