Việt Nam’s garment-textile export value is expected to reach US$44 billion in 2024, marking an 11.26 per cent increase from 2023, according to the Việt Nam Textile and Apparel Association (VITAS).
State-of-the-art textile and garment machinery are on show at the Vietnam International Textile and Garment Industry Exhibition that opened in HCM City on Wednesday.
This move is a new step in production, escaping the increasingly competitive conventional textile and garment production sector, and expanding opportunities from niche markets.
Price competition has long been a problem hindering the textile and garment industry from entering the global supply chain. Việt Nam has not had a long-term specific plan for developing raw materials needed for the industry. This remains a weak...
Vinatex PD&B will handle the design and product development phases within the supply chain, which traditionally held the highest value and were managed by buyers.
Ambassador Đặng Hoàng Giang, Việt Nam''s Permanent Representative to the United Nations (UN), highly appreciated the impressive presence of Vietnamese textile and garment products at the New York Textile and Garment Exhibition on July 16 (New York time).
The Green Tech Landing Pad identifies, connects, and facilitates the adoption of green technologies among Vietnamese textile and garment enterprises to ensure compliance with European sustainability standards.
While Việt Nam’s textile and garment industry is recovering, it is facing new challenges such as customers preferring small, rapid orders and labour shortages, experts have said.
Policies on unemployment and social insurance have also d challenges in the labour market with a rise in minimum wage which raises input costs, but product prices have not increased.
Textile and garment businesses are making a green push with development of eco-friendly products adapted to global fashion trends and by meeting the stringent requirements under free trade agreements the country has signed, according to industry insiders.
Covering 120,000sq.m in the Bỉm Sơn Industrial Park, the factory will over 1,500 jobs for local people, with an estimated goods output of about US$100 million each year in the first phase, congthuong.vn reported.
Over the years, businesses have focused on brand development, creating higher value in export orders and establishing a solid position in the domestic market with "Made in Vietnam" products gaining a strong foothold and winning over consumers in foreign markets.