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Volume of apparel imports by EU from Vietnam plunges

In the first month of 2017, Vietnam registered downfall of 6.91 per cent in its volume-wise apparel exports to the European Union (EU). Whereas, the country noted surge in the values of exports by 6.50 per cent on Y-o-Y basis. Quantity of knitted apparels dropped by 5.07 per cent to 3.88 million kg in January 2017 as against 4.09 million kg in the same month last year. Value was however up by 16.95 per cent […]

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Industry 4.0, a threat to Vietnam’s textiles sector?!

“The fourth Industrial Revolution (Industry 4.0) will present a challenge for Vietnam’s textiles and garment sector within the next five years,” said Le Tien Truong, CEO of Vietnam National Textile and Garment Group (Vinatex). He further added that Industry 4.0 will create very rapid changes and unpredictable factors in the economy and if there are no careful preparations, production systems in the sector will not be sufficiently competitive to adapt to the changes. During the […]

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Vietnamese garment industry emerging stronger

After witnessing a sluggish 2016, industry players are of the view that the garment industry of Vietnam is seeing good order booking for the current year which shows that the country is emerging stronger despite tough market conditions… Trinh Hoang Anh (Andy), Deputy General Director, Camle JSC exclusively told Apparel Resources at the recently concluded SaigonTex 2017 edition: “Despite economic slowdown last year, Vietnam has emerged strongly in 2017. We have been receiving orders again […]

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Vietnamese garment industry to benefit from RCEP membership

According to Vu Duc Giang, Chairman of Vietnam Textile and Apparel Association (VITAS), Vietnam is negotiating for the Regional Comprehensive Economic Partnership (RCEP), which may bring innumerable benefits to the country’s garment and textile sector in terms of cost, market scale, and supply of materials. The local Bao Cong Thuong (Industry and Trade News) online newspaper quoted Giang as remarking that the RCEP membership will be a huge boost for Vietnamese garment and textile industry […]

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Vietnam sees surge in FDI from China

According to Foreign Investment Agency data, Vietnam has witnessed a rise in Foreign Direct Investment (FDI) from China in the first two months of 2017. In January and February, Chinese investors have registered to implement 123 projects in the country. The US $ 220 million Billion Vietnam polyester synthetic fibre plant in central Tay Ninh province is among the Chinese investments during the period. “Chinese investments are likely to continue,” avers Le Xuan Nghia, Local […]

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Vietnamese textile & apparel sector’s order book full for Q1

According to Le Tien Truong, General Director of Vietnam National Textile and Garment Group, several textile and garment manufacturers had received export orders in January itself for the first quarter, or even the first two quarters of 2017. Therefore, he predicts that there would be a significant surge in the textile and garment export market this year. Besides, Thuy Dat Joint Stock Company has signed contracts to ensure that the apparel and textile exports from […]

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Vietnam’s partnership with Thailand to boost textile and garment industry

Vietnam is all set to join hands with Thailand in the field of textiles, design and administration. Vietnam has the skills and potential to become an apparel production hub for international buyers; however it lacks upstream and midstream channels. On the other hand, the textile and garment industry of Thailand has a complete supply chain cycle from upstream to downstream, from yarn manufacturing to apparel manufacturing. Setting a fully vertical integrated supply chain between Thailand […]

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Vietnam gains as US’ apparel imports increase in January

According to data released by OTEXA, the International Trade Administration’s Office of Textiles and Apparel, US’ apparel imports increased in the month of January although the cost of goods continued going downwards. The total apparel imports increased by 5.3 per cent, on an MFA basis in the month, to US $ 6.98 billion. Also Read – US apparel imports continue to fall On the basis of a square metre equivalent (SME), imports saw a 10.7 […]

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Brother strengthens after-sales services in Vietnam

Headquartered at Japan, Brother Industries Ltd. has recently established a sales and after-sales servicing facility for its industrial sewing machine business in the city of Danang, located in the central region of Vietnam. The centre, named – Representative office in Danang of Brother International (Vietnam) Company Limited, has also started its operations. With the launch of the new facility in Danang, Brother has laid a platform for sales and servicing channels that can provide more […]

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‘Human rights’ factor may hold back EU-Vietnam FTA

The European Union (EU) and Vietnam had signed the Free Trade Agreement (FTA) in December of 2015. However, the European Parliament and the legislatures of all EU members have still not approved the agreement for it to take effect. The EU-Vietnam Partnership is based on the respect of human rights and democratic principles, yet the FTA is being fast-tracked with hardly any attention on human rights. The Government in Vietnam faces pressure from European lawmakers […]

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T&C industry in Vietnam, Cambodia, Myanmar notes surge in investment

According to a report issued by Tokyo Shoko Research, 110 Japanese companies went bankrupt last year citing the challenges of doing business in China. Among these companies, the worst hit industry was apparel, which reported 54 bankruptcies – nearly half of the 110. Sadayoshi Tamura, a spokesman for the Japan Textile Federation, admitted that increasing costs in China have hurt member companies’ operations, but some companies that declared bankruptcy in China went on to raise […]

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Vietnam’s PM set to visit US to promote ties

Prime Minister of Vietnam Nguyen Xuan Phuc will visit the US soon and has expressed hopes to work with the newly elected US President Donal Trump, especially with regard to trade. His visit to the US therefore holds significance. Despite the Trans Pacific Partnership (TPP) agreement being cancelled by Trump, Vietnam has been building relations with the US amidst a marine dispute with China. Phuc has also expressed his wish for the US to continue […]

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Brexit Effect: Vietnam may soon feel the heat

The EU economy interspersed with the resignation of the Italian Premier and the exit of the UK and Northern Ireland from the EU may now start to adversely impact Vietnam’s exports to the large markets. Le Tien Truong, General Director of Vinatex, the nation’s leading textile and garment group, had predicted that Brexit would show its impact on Vietnam by the end of the first quarter of 2017. The EU is the second largest export […]

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South Korean investments rise in Vietnam’s T&C industry

South Korea is majorly investing in Vietnam’s textile and garment industry. The main objective  behind this move is to meet the increasing orders from US importers, mainly prominent retailers  such as Walmart, Target, Kohl’s, Sears, Kmart and Tesco. With more than 500 businesses based  in Vietnam, and almost US $ 2 billion in total committed capital, the investment by South Korea  has helped in augmenting Vietnam’s textile and garment industry. The Sea-A group has been […]

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Border Adjustment Tax may affect Vietnam’s exports to US

Vietnam’s exports to the US could be affected if the US implements its Border Adjustment Tax (BAT) as a part of President Donald Trump’s plan to revise tax policy, a macroeconomic report said. The BAT, if implemented, could be significantly unfavourable for countries exporting goods to the US, including Vietnam, said the report, which was prepared and distributed by MarketIntello and the Development and Policies Research Center (DEPOCEN). The US is Vietnam’s biggest export market, […]

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