Textile and clothing exports to the US might touch $13.8-13.9 billion this year, and experts assume the sector would see more import orders shifted to Vietnam due to the implications of the US-China trade war.
Garment and textile businesses from Vietnam and the Republic of Korea (RoK) discussed the use of technology in their sector at a garment technology conference held in Ho Chi Minh City on June 27.
VOV.VN - With import tax cuts presented by free trade agreements (FTAs) to which, Vietnam is a member, increasing automation in production and quite favourable factors in the world market, the country’s garment and textile exports are forecast to hit US$200 billion by 2035.
VOV.VN - The US is the largest export market for the southern province of Dong Nai, accounting for nearly 30% of the province’s total export value, according to the provincial Department of Industry and Trade.
VOV.VN - Imports of materials for garment and footwear industries from Canada saw a tremendous growth of 179.8% to US$11.8 million in the first four months of this year, according to the statistics from the General Department of Vietnam Customs.
Deputy Prime Minister Trinh Dinh Dung has signed a decision approving the restructuring plan for the industrial sector in 2018-2020, with consideration for 2025.
VOV.VN - More than 1,100 domestic and foreign businesses have registered to take part in the Vietnam Saigon Textile & Garment Industry Expo (Saigontex 2018), which is set to take place in Ho Chi Minh City from April 11-14.
The garment-textile sector is aiming for a growth of 10% in 2018 in spite of huge challenges in the global market, said Le Tien Truong, Director General of the Vietnam National Textile Garment Group.
VOV.VN - Despite receiving huge imports of materials from China, Vietnam’s exports of textiles and garments to the vast market have consistently increased over recent years, rising from US$2.7 billion in 2016 up to around US$3.2 billion in 2017, and this growth pattern is expected to continue this year.
General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong extended the best wishes to officials and people of Hung Yen while visiting the northern province on February 19 - the fourth day of the lunar New Year.
VOV.VN - In January 2018, exports of telephones and components reached US$4.2 billion, an impressive rise of 80.7% against the same period last year.
2018 is looking rosy for Vietnam’s garment-textile industry, with exports forecasted to fetch US$33.5- US$34 billion, up 10% year-on-year.
VOV.VN - Five groups of export items with value reaching more than US$10 billion in 2017 include telephones, computers, garments and textiles, footwear and machinery.
The EU-Vietnam Free Trade Agreement will offer direct opportunities to Vietnam to upgrade its textile and garment sector.
Despite facing difficulties, the garment and textile sector is expected to export products worth US$31 billion this year, a year-on-year increase of 10.2%, and the outlook is bright for next year too, the Vietnam Textile and Apparel Association (VITAS) has said.
Indian companies are looking to cement ties with Vietnamese counterparts in the textile and garment sector.
US garment-textile and footwear businesses are seeking their own investment opportunities in Vietnam as their country has withdrawn from the Trans-Pacific Partnership (TPP) earlier this year.
An increasing number of overseas buyers are sourcing products from Vietnam as the country is rapidly improving its supply chain for locally made garments and taking part in more free trade agreements.
The World Bank has officially introduced a $312.5-million loan package as part of the project themed “Vietnam Energy Efficiency for Industrial Enterprises” (VEEIE) to provide Vietnamese textile and garment enterprises capital to modernise equipment to save energy.
Head of the Party Central Committee’s Mass Mobilisation Commission Truong Thi Mai has praised the International Labour Organisation’s support for Vietnam in building legal frameworks relating to labour standards and social security.