Data from the Ministry of Industry and Trade (MoIT) showed that since the beginning of the year, the textile industry has achieved positive results. Compared to the same period last year, the industry has grown by more than 12 percent.

Illustrative image.

The industry has posted growth in production of costumes (up 8.8 percent), fabric made from natural fibres (3.9 percent), synthetic fibres (19.5 percent) and casual clothes (8.7 percent).

So far this year, textile and garment export turnover is estimated at 9.43 billion USD, an increase of 9.8 percent from the same period last year.

According to Le Tien Truong, general director of the Vietnam National Textile and Garment Group (Vinatex), Vietnam’s garment export industry is growing. Orders to Vietnamese enterprises have increased by 8-10 percent over the same period in 2018.

Truong also emphasised the initiative of textile enterprises in seeking new markets. A market tour by Vinatex and 10 other large businesses in May 2019 to seek importers in Canada – a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – shows the determination of industry leaders to increase Vietnam’s market share abroad.

“Meetings with importers have been taking place, and a number of importers with revenue of up to 1 billion Canadian dollars such as VF, Atlantic Sportwear and Giant Tiger have contacted Vietnamese textile enterprises,” Truong said.

In April, the International Exhibition of Textile and Garment Industry - Fabric & Garment Accessories in HCM City served as another opportunity for textile enterprises to expand their market. With more than 1,000 international suppliers attending from 24 countries, the exhibition helped businesses get information about the latest production technologies and find ways to meet the needs of domestic and international buyers.

Vietnam’s textile and garment is appreciated by foreign partners for both its quality and order fulfilment time.

Cao Huu Hieu, Vinatex’s managing director, said that medium and large textile enterprises in Vietnam have worked to meet social responsibility and Green Label criteria from partners.

However, the sector also faces of a number of challenges. For example, increased trade stress is affecting service prices.

In addition, strong exporting countries consider Vietnam a rival to curb. In order to continue growing at the same rate, enterprises need to innovate with specific solutions. They must develop a competitive tool set including focusing on technological innovation, saving energy and improving the productivity of synthetic factors through solutions such as automation.

It is necessary to link businesses through common information, artificial intelligence and big data, Hieu said.

Vietnam’s textile-garment industry hopes for breakthroughs in 2019

Vietnam’s textile and garment sector is hoped to make breakthroughs in 2019 based on successes and momentum last year.

Garment export turnover hits over 3.2 million USD

(BGO) – The Customs Office controlling the industrial parks in the northern province of Bac Giang has facilitated and completed the clearance procedure for Ha Phong Export Garment Joint Stock Company (Hiep Hoa district) to export the commodities worth over 3.2 million USD. 

Garment-textile export turnover sees highest growth in three years

The garment-textile sector has grossed over 36 billion USD in export turnover this year, up 16.01 percent against the previous year, heard a conference in Hanoi on December 14.

Garment-textile export to reach 35 billion USD

  

Bac Giang garment industry grasps opportunities to make breakthroughs

(BGO) - The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTTP), expected to come into force next year along with the signed free trade agreements (FTAs), has opened up opportunities for the textile and garment industry to accelerate. Many apparel businesses in Bac Giang province have actively made approach plans to increase profits.

Source: VNS/VNA