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Vietnam upswings in garment & footwear exports

According to the latest statistics from General Department of Customs – Vietnam, the country’s total exports of garment and footwear products reached US $ 15 billion in the first five months of 2017. This accounted for 19 per cent of Vietnam’s total export turnover during the period. Of the total revenue, January to May period’s garment exports hit US $ 9.39 billion, surging 9.1 per cent against the same period last year. Out of the […]

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Vietnam T&C industry to be worth US $ 50 billion by 2020: Report

According to a report released by the business information company Textiles Intelligence, Vietnamese textile and clothing export industry is all set to grow by 15 per cent a year till 2020 to reach US $ 50 billion up from US $ 28 billion in 2016. T&C production is also expected to rise by an average of 12-14 per cent per annum during the course of next 4 years. The report says, to achieve these targets, […]

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HCM City aims to become Vietnam’s future T&C hub

Ho Chi Minh City, a famous city in Vietnam, aims to become the country’s future garment, textile material and accessory hub, and is planning to build large centres for designing fashion, trading garment, textile material and accessories. The municipal authorities of the region informed that the HCM City has set targets of meeting 80-90 per cent of Vietnam’s demand for garments and textiles by 2020, and supplying 100 per cent of accessories for the country’s […]

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Vietnam’s T&C exports fluctuate

Vietnam’s textile and apparel exports witnessed a serious slowdown in 2016. Total exports only rose 3.64 per cent in dollar terms against a rise of more than 10 per cent in 2015. The downfall is said to be noted due to recession in the US apparel import market. However, the market share of Vietnamese exporters has improved in the country, whereas the same is being maintained in a recovering European market. Shipments from Vietnam to […]

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Vietnam sees India as potential apparel supplier

“The clothing and textiles segments are overly dependent on raw material imports from China,” averred Nguyen Thi Tuyet Mai, Deputy General Secretary, Vietnam Textile and Garment Association (VITAS), while speaking at a seminar in Hanoi, Vietnam. She further substantiated her point by mentioning that garment and textile industry need to reduce their dependence on China, the Republic of Korea and Taiwan, the three primary supply sources, and look for viable alternatives. Depending completely on 3 […]

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Indian firms to strengthen textile & garment trade links with Vietnam

According to Smita Pant, Indian Consul General in Ho Chi Minh City, Indian textile and garment companies are determined to promote trade cooperation with Vietnamese companies. She said this at a press conference in HCM City on 10 May while introducing Textiles India 2017 which will be held from 30 June to 2 July in HCM City. “The two nations need to encourage cooperation through promoting trade, attracting investment and increasing export turnover,” averred Pant. […]

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Vietnam observes May as ‘Month of Workers’

Vietnam General Confederation of Labor (VGCL) has signed agreements with service providers so that all workers get discount during the entire month of May. Disadvantaged workers and their families will be given special treatment and outstanding workers shall be honoured throughout the month. “Prime Minister Nguyen Xuan Phuc has held a dialogue with 2,000 workers in the central key economic region to help solve their problems. Improving workers’ working and living conditions should be a […]

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Garment and textile businesses in Vietnam seek to capture Russian market

Increasing demand to import over US $ 10 billion worth apparel products every year is making Russia a potential market for the garment and textile business enterprises in Vietnam. The Vietnam Textile & Apparel Association (VITAS) says that the businesses have received, and are receiving, several orders for jeans and jackets from Russian companies. “Russia has a cold climate and so its consumers have huge demand for jackets and jeans,” averred Vu Duc Giang, Chairman […]

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South Korean textile company to up investment in Vietnam

A leading South Korean chemical and textile company, Hyosung Corp., will in all probability increase its investment in Vietnam. This comes after the company’s operation in Vietnam delivered extraordinary earnings among its subsidiaries in 2016. According to the Financial Supervisory Service, Hyosung raised US $ 131 million in net profit from its Vietnamese business for 2016 – best earnings among the 26 subsidiaries under the South Korean textile company. It is worth noting that its […]

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Vietnamese T&C industry witnesses resurgence of capital flows

This year, so far, the biggest increase in investment capital in the textile and garment industry of Vietnam has been the expansion of the plant by Taiwanese Polytex Far Eastern Group in Binh Duong Province to manufacture polyester fibre products. The investor has been granted a license to increase investment capital by an additional US $ 485.8 million in less than two years after making the first investment in the project, which raises the total […]

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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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