Việt Nam’s textile and garment industry was likely reach its target of US$40 billion in export turnover this year despite facing difficulties in some markets.
With its series of recent free trade agreements, Viet Nam is becoming very attractive to foreign businesses, especially in the textile and garment sector.
Viet Nam’s textile and garment industry is striving to achieve export turnover of more than US$40 billion in 2019, a year-on-year increase of 14-15 per cent.
Viet Nam witnessed a growth in textile and garment exports to most of the major markets in the first five months of 2018, reported the General Department of Viet Nam Customs.
The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS).
Viet Nam’s textile and garment exports to the US reached approximately US$3.14 billion in the first quarter of this year, marking a year on year increase of 13.2 per cent – the highest pace in the last three years, statistics from the General...
HanesBrands Vietnam, a subsidiary of the United States-based Hanesbrands Inc, celebrated its first decade of remarkable achievements in Viet Nam’s market at a ceremony on December 7.
The Ministry of Industry and Trade (MoIT) should further clarify weaknesses and bottlenecks in the current development of industries so as to have a better plan on industrial restructuring, experts said at a workshop held in Ha Noi on Wednesday.
With the demand to import more than US$10 billion worth of apparel products each year, Russia is a market with potential for Vietnamese garment-textile businesses.
The textile and garment sector enters the second quarter (Q2) of this year with promising signs from new import markets, said General Director of the Viet Nam Textile and Garment Group (Vinatex) Le Tien Truong.
Vietnamese textile and garment companies should focus more on developing their supply chain to enable them to capitalise on opportunities arising from free trade agreements, a panel discussion heard in HCM City this week.