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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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Oxfam voices concern over striking ‘inequality’ in Vietnam garment industry

The Government of Vietnam and all the business establishments should find ways to improve the quality and safety of women’s economic opportunities, so as to ensure them fair income, job security and safe working conditions, this was said by an advocacy group Oxfam in its recent report. Oxfam, in particular, focused on the garment industry, where 80 per cent of workers are women with the sector’s wages being set too low and labour rights being […]

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Vietnam’s cotton import may reach 5 million bales

Vietnam, which has earned the tag of being among the top five textile and apparel exporting countries in the world, is expected to see rise in cotton import in 2016-17. If reports are to be believed then cotton import this year may reach five million bales this fiscal. The US, third largest cotton producing nation, will be one of the biggest beneficiaries as 40 per cent of the total cotton import will reportedly come from […]

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SGS opens new testing laboratory in Vietnam

SGS, a testing and inspection company, is expanding its reach in Vietnam by opening a new consumer product testing laboratory in Hai Phong to complement the facilities that already exist in Ho Chi Minh City. The newly inaugurated laboratory is equipped with state-of-the-art facilities to provide physical and restricted substances testing. The testing services cover wide range of products chiefly textiles, apparel and footwear. “With the aim of providing customers with the most convenient, cost-effective […]

February 24, 2017

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Vietnam exports US $ 15 billion T&C products to US, Japan

According to Vietnam Textile and Apparel Association (Vitas), garment and textile products exports from the country to US and Japan mounted to US $ 15 billion in the year 2016. This accounted for 53.5 per cent of Vietnam’s garment and textile sector’s export turnover last year. During 2016, Vietnam recorded a total turnover of US $ 28.3 billion. The textile and garment industry in Vietnam has set a growth target of 6.5-7 per cent to […]

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Vietnam aims for 6.5-7% growth in textile & apparel export

The textile and garment industry in Vietnam has set a target of 6.5-7 percent to US $30 billion this year. This was announced by Le Tien Truong, General Director of Viet Nam National Textile and Garment Group (Vinatex), a Vietnamese state-owned textile company. The industry experts in Vietnam are expecting to reach this target due to growth in the US economy and in consumption in the market. Such conditions would bring cheer to garment industry […]

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Vinatex gets Japanese firm Itochu as consulting partner

Vietnam National Textile and Garment Group, a large Vietnamese state-owned textile company, also known as Vinatex, has signed an agreement with Japanese general trading company Itochu, which has co-operated with some 100 textiles and garment companies of Vietnam. Vietnamese Prime Minister PM Nguyen Xuan Phuc and his Japanese counterpart Shinzo Abe were present at the time of signing of the agreement in Ha Noirecently. Under the agreement,the latter will serve as consulting partner for former […]

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Unifi’s REPREVE reaches Vietnam

Unifi Inc. has signed an agreement with Century Synthetic Fiber Corporation to manufacture, sell and distribute REPREVE filament yarn within Vietnam while Unifi Textiles (Suzhou) Co. Ltd. (UTSC) – Unifi’s subsidiary in China will manage sales and distribution of REPREVE filament yarn exported from Vietnam. REPREVE is Unifi’s flagship brand of recycled fibres, made from recycled materials, including plastic bottles. It may be mentioned here that Century Synthetic Fiber Corporation, established 15 years ago and […]

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