Vietnam posts high textile exports

According to the Ministry of Industry and Trade, February’s garment export earnings rose 44.9% to US$1.3 billion. 

The ministry said garment makers have started large projects to expand their production and receive new business opportunities this year. 

So far, many enterprises have signed export contracts to be completed by the third quarter of this year, the ministry said. 

General Director of the Garment 10 Corporation Nguyen Thi Thanh Huyen said the company has signed many export contracts since early this year. It has increased investments to install more production lines to make high-quality products in its factories in Thai Binh, Thanh Hoa and Quang Binh provinces. 

The company has also renewed the organisation of production to increase capacity, she said. 

Deputy General Director of Nha Be Garment Corporation Nguyen Ngoc Lan said his corporation, like other Vinatex members, had enough orders to manufacture products the whole year.

He said he hopes that Nha Be will have better export results this year compared with last year. 

Nha Be has invested several times in developing its production capacity to become an original design manufacturer. An original design manufacturer (ODM) is a company which designs and manufactures a product which is specified and eventually branded by another firm for sale. 

Now many foreign customers want partners which can provide ODM services to help them save money and time, he said. 

Vietnam Textile and Garment Group (Vinatex) General Director Tran Quang Nghi said the export products of Vinatex reduced the use of import materials and increased products with design. So it increased not only the export value but also the added value of the products. 

Nghi said Vinatex achieved its targets in the market and increased investment and efficiency with its restructuring of production and business to improve its competitiveness in the domestic and foreign markets. 

The improvement of the quality of production and business is a key task of Vinatex this year, according to the general director. The group expects to gain a year-on-year rise of 12% in export value this year. 

Vinatex will promote its investments in developing materials and sub-materials this year, including solid-dyed cloth and yarn-dyed cloth, to increase the localisation rate of its products. This is one of key conditions to get more export opportunities under the Trans Pacific Partnership (TPP) Agreement, he said. 

The group expects the member companies to get more export orders this year due to the bright forecast for the world textile and garment market and the increase in export opportunities from TPP. 

Industry and Trade Deputy Minister Ho Thi Kim Thoa has highly appreciated Vinatex's success in equitisation and restructuring processes in the previous years and has also asked the group to focus further on the domestic market and to promote cooperation among Vinatex members this year to create a cooperative and competitive business environment. 

In 2013, Vietnam's textile and garment industry earned US$20 billion in export value, including US$17.9 billion for textile and garment exports and a 15.7% surge to reach US$2.1 billion for fibre products. The industry boasted a trade surplus of US$5.12 billion last year, with imports of raw materials estimated at US$14.88 billion.