VOV.VN - With the EU-Vietnam Free Trade Agreement (EVFTA) set to come into force on August 1, it is considered a great opportunity for the Vietnamese textile and apparel industry, despite concerns that the rules of fabric origin will make it tough for local products to enjoy the benefits of the trade deal.
Inflated logistics costs were hampering the competitiveness of Vietnamese goods, according to Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang.
VOV.VN - The opening four months of the year saw the total value of textile and garment exports fall by 6.6% on-year to US$10.64 billion as a result of the negative impacts caused by the novel coronavirus (COVID-19) pandemic, according to the Vietnam Textile and Apparel Association.
A webinar co-held by the Vietnam Textile and Apparel Association (VITAS) and the Ministry of Industry and Trade (MoIT) on May 4 answered questions from producers regarding the EU and the US’s rules on the import of face masks and medical equipment.
VOV.VN - Garment makers fear that the decision taken by the European Union to close its borders to slow down the spread of the novel coronavirus (COVID-19) will cause a significant impact on their production and business activities.
Garment-textile and footwear enterprises are seeking material supplies from markets besides China amid the complicated developments of the acute respiratory disease caused by SARS-CoV2 (COVID-19).
Vietnamese companies, many of whom are facing a shortage of feedstock and raw materials as a result of the new coronavirus (COVID-19) outbreak in China, have started looking at alternative sources.
The landmark Comprehensive and Progressive Agreement for Trans-Pacific Partnership has been in force for more than a year now, influencing the trade activities of member economies.
Vietnam has been unable to gain export growth to all CPTPP member countries, according to the Ministry of Industry and Trade.
VOV.VN - The first 11 months of 2019 saw a large amount of capital injected into various textile, dyeing, and fiber projects across the nation, according to information released by the Vietnam Textile and Apparel Association (Vitas).
VOV.VN - After enjoying US$39 billion in export turnover throughout the year, the apparel and textile industry has recorded a trade surplus of US$16.6 billion, up U$$2.25 billion over last year’s figure, according to the Vietnam Textile and Apparel Association (VITAS).
Prime Minister Nguyen Xuan Phuc has asked the textile and garment industry to strongly shift from processing to production, aiming to create more highly added value products.
Vietnam’s textile and garment industry is estimated to grow about 7.55 percent this year, according to President of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang.
The domestic textile and garment industry is expected to reach its export revenue target of 40 billion USD this year despite facing many difficulties, said Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS).
Foreign direct investment inflows into Vietnam’s textile and garment industry mounted to 19.5 billion USD over the last three decades with the Republic of Korea (RoK) being the top investor.
The garment industry has called for investment in the underdeveloped textile, dyeing and fabric segments to meet the global supply chain demand, according to the Vietnam Textile and Apparel Association (VITAS).
More than 35 leading Vietnamese producers of garments, textiles and fashion accessories as well as garment-related industries are showcasing their goods at Hong Kong’s biggest fashion show that opened on October 27.
The Vietnam Textile and Apparel Association (VITAS) said the total export value of textiles, fiber, and cloth reached 25.7 billion USD in the first eight months of the year, up 8.6 percent year on year, including 60.6 percent from foreign direct investment (FDI) enterprises.
The reduction of working hours from 48 hours per week to 44 hours will create difficulties for textile and garments enterprises, according to one leading expert.
VOV.VN - Underdeveloped textile and dying supporting industries could pose a threat to the future export of the apparel sector amid the freshly-signed EU-Vietnam Free Trade Agreement, insiders have warned.