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# Vietnam Apparel Industry

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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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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Global apparel trade contracts 1%: ICRA

Global apparel trade remains under pressure, having contracted by 1 per cent to US $ 432 billion in FY 2016, following a 5 per cent de-growth in 2015, owing to subdued demand trends reported by the key importing countries. This has been stated in a report by ICRA, an Indian independent and professional investment information and credit rating agency. While the volumetric growth remained marginally positive, primarily aided by recovery in demand from Europe, the […]

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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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Trump’s trade threats against China may help Vietnam

Immediately after being sworn in as Commerce Secretary, Wilbur Ross has announced that specific steps would be taken with regard to US President Donald Trump’s stand to carry out his trade threats against China – if he may decide to do so. “Specific measures against China will be announced as soon as we have a proper case prepared,” Ross said in an interview given to Bloomberg Television last week. The Secretary spoke just before Trump’s […]

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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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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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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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TPP won’t affect Vietnam T&C exports to USA: VITAS

Vietnam’s textile & garment export turnover to the USA would increase by 30-40 per cent in the first year of the TPP agreement implementation and would increase by twofold after three to four years. Truong Van Cam, Secretary General, VITAS is sure of Vietnam’s T&C exports to the US increasing, with or without TPP. In the month of October last year, Vietnam exported US $ 9.476 billion of T&C products to the US. Analysts estimate that […]

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Hop Lun Vietnam to set-up new factory

Apparel manufacturer Hop Lun Vietnam Company Limited recently kicked off the construction of a garment factory in the northern province of Vinh Phuc, Vietnam. Sprawling over an area of 9.7 hectares in Van Quan and Dinh Chu communes of Lap Thach district, Vietnam, the plant is expected to employ 2,500 workers once operational, thus helping locals increase their incomes and boosting the province’s social-economic development. The new facility projects to earn nearly US $ 38.2 million from […]

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Vietnamese apparel manufacturer to halt operations from next year

Phú Thịnh-Nhà Bè Garment Joint Stock Company, a Vietnam-based apparel manufacturer has decided to halt its apparel manufacturing business from early next year. The decision has been taken to overhaul its operations which have been declining since 2012 due to unstable material sources, rising costs and a shortage of labour which has resulted in ineffective operations. It may be noted that company’s net profits dropped to over VNĐ 2 billion in 2016 from VNĐ 7.5 […]

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Vietnam Government urges VINATEX to promote R&D

CAO Quốc Hưng, Deputy Minister of Industry and Trade has urged Vietnam National Textile and Garment Group (VINATEX) to promote research and development (R&D) activities and apply technology in garment production to offer value-added products, at a recent conference held to review VINATEX business results in 2016, in Hanoi, Vietnam. The Minister also requested VINATEX to ensure that there are no negative effects on the environment. In 2017, the Group expects a rise of 12 […]

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Vietnam International Fashion Fair 2016 begins

The ongoing Vietnam International Fashion Fair 2016 at Hanoi’s International Centre of Exhibition, Vietnam is witnessing more than 150 enterprises showcasing their latest fashion products. Co-organised by Vietnam Exhibition and Fair Centre JSC (VEFAC) and Vietnam Textile and Garment Group, the six-day event is hosting over 200 booths covering 4,000 sq. m. displaying textiles and garments, footwear and many more segments. The event is a promising opportunity for participating enterprises to effectively advertise their products to […]

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Vietnamese T&C sector to face challenges even in 2017!?

Textile and garment sector of Vietnam will continue to face challenges even in 2017 due to fierce competition by other major exporters such as China, India, Bangladesh and Pakistan while global demand is forecasted to slow down, reports a local Vietnamese news agency. Le Tien Truong, General Director, National Garment and Textile Group (VINATEX) averred that the textile and garment exports to the US and the EU will also be under negative impact owing to […]

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