Garment

The General Department of Vietnam Customs reported that as of mid-July, garment-textile was one of the four sectors posting the highest export revenue, with a record of over 20 billion USD, up nearly 20% year-on-year. Garment-textile was also among the six groups whose export value increased by over 1 billion USD. Vietnamese garment-textile products were shipped to 55 countries and territories worldwide, including 17 markets with a turnover of more than 100 million USD each. The US, Japan, the Republic of Korea and Canada were among major buyers of the Vietnamese products. Earlier, the Vietnam Textile & Apparel Association said textile-garment producers target to earn up to 21 billion USD from exports in the second half of this year, raising total shipments of the year to around 43 billion USD./. VNA … [Read more...] about Garment-textile exports set to hit 45.7 billion USD this year

Technology application helps increase garment and textile productivity (Photo: VietnamPlus) Hanoi (VNA) – Overcoming a series of difficulties caused by the COVID-19 pandemic, the garment and textile industry is now employing some 2.5 million workers, while generating 40 billion USD worth of export and a trade surplus of nearly 20 billion USD. Last year, the sector began recovering as its key major markets bounced back thanks to effective economic stimulation packages, said Executive Director of the Vietnam Textile and Garment Group ( Vinatex ) Cao Huu Hieu, in an interview with the e-newspaper VietnamPlus. Hieu listed a series of difficulties and challenges facing garment-textile firms over the past two years, such as decreasing demand and disrupted material supply that led to the cancellation or postponement of orders. Distancing measures at home also caused domestic revenue to plunge, he said, adding that they had to manage to avoid being fined due contract violations … [Read more...] about Garment-textile surmounts COVID-19 blow

Exporters are allowed to self-certify the origin of export and import shipments with a value of less than EUR6,000 On June 11, 2021, the Ministry of Industry and Trade issued Circular 02/2021/TT-BCT guiding the implementation of UKVFTA rules of origin. The circular took effect on July 26, 2021. Accordingly, for export value exceeding EUR6,000, exporters must obtain a certificate of origin authorized by the Ministry of Industry and Trade. Exporters are allowed to self-certify the origin of export and import shipments valued at less than EUR6,000 between the UK and Vietnam. For imports worth more than EUR6,000 into Vietnam, exporters registered in an electronic database authorized by the UK customs authorities are allowed to self-certify. Proof of origin must be submitted to Vietnamese customs within two years of imports. Customs authorities may require a translation if not in English. Certificates of origin are valid for 12 months and must be submitted to customs authorities of … [Read more...] about UK tariff preferences benefit Vietnam

Imports rose by 13.6 percent to $215.59 billion, according to data from the General Statistic Office. In the same period last year Vietnam had run up a trade deficit of $3.31 billion. Mobile phones and components remained the top export item, with their value going up 13.1 percent to $33.7 billion. Electronics, laptops and components were second at $31.7 billion, followed by equipment and spare parts at $24.9 billion. Garment and footwear exports jumped by nearly 20 percent each to $22.1 billion and $14.1 billion. The U.S. continued to be Vietnam’s biggest export market with its purchases going up by 24.3 percent to $67.1 billion. China followed with imports of $30.4 billion. It was Vietnam’s top trading partner with two-way turnover of $103.1 billion. Exports to other other markets rose by 13-27 percent. The trade surplus is low and not very likely to be sustained, the GSO warned. … [Read more...] about Vietnam enjoys trade surplus following double-digit export growth

Hanoi will continue supporting workers by helping them access loans and training to improve their vocational skills. Over 137,000 jobs were created in Hanoi in the first seven months of 2022, representing 85.8% of the annual plan and an increase of 23.2% year-on-year, according to the municipal Department of Labor, War Invalids and Social Affairs. In July alone, Hanoi found jobs for more than 18,400 workers, providing job counseling to 7,200 people and supporting vocational training for 101 people with a total amount of VND443 million (nearly US$19,000), the department said. From daily, online, themed and mobile job boards in districts across the city, 1,900 people have been hired. In addition, 12,100 people have been sent to work abroad. Many workers find out information and apply for jobs at the mobile job session in Hanoi’s Long Bien District in 2022. Photo: Tran Oanh Deputy Director of the Hanoi Employment Service Center Vu Quang Thanh told The … [Read more...] about Hanoi provides employment assistance for over 137,000 workers

Hanoi’s special products are on display at a trade fair in the city's outskirt district of Phuc Tho, which will run until August 3. Manufacturers of the city's OCOP products will have the opportunity to receive advice and guidance on brand, trade promotion, and sale at the OCOP promotion event in Phuc Tho District. Hanoi's OCOP products are on display at the event. Photo: TTXVN Speaking at the opening ceremony, Nguyen Ngoc Son, Deputy Director of the Hanoi Department of Agriculture and Rural Development said: “This event helps production and business entities strengthen trade connections to seek ways to sell products and exchange experiences on digital transformation, flexible adaptation solutions in the post-pandemic period and amid market fluctuations.” In particular, this is also a practical activity in response to the campaign "Vietnamese people buy Vietnamese goods" in the new stage, he emphasized. He also suggested that OCOP businesses participating … [Read more...] about Trade fair promotes OCOP of Hanoi

The application of advanced technology in production is one of the key solutions to maintaining traditional craft villages. Despite its important contribution to the rural economy, the sustainable development of craft villages in Hanoi is facing great challenges that require comprehensive solutions from relevant agencies and stakeholders. Local consumers are shopping at a store in Van Phuc silk craft village. Photo: Bich Hoi Van Phuc, about 15km far from Hanoi, is known as a famous silk craft village both nationally and abroad. However,  many silk weavers have switched to other lucrative jobs due to rapid urbanization. "The number of looms in Van Phuc Village had decreased from more than 500 looms in 2001 to about 300 today. Skilled silk weavers are aging, while young villagers are not interested in the traditional trade," said Pham Khac Ha, chairman of the Van Phuc Silk Weaving Villages Association in Ha Dong District. The people of the centuries-old … [Read more...] about Hanoi seeks ways to develop sustainable craft villages

Hanoi (VNA) - The following is a brief review of the day’s events as reported by the Vietnam News Agency on August 4. - Prime Minister Pham Minh Chinh on August 4 commended efforts by the banking sector in digital transformation with diverse products and services for people and businesses. At the working session (Photo: VNA) Addressing “Digital transformation day of the banking sector” in Hanoi, Chinh, who is also head of the National Committee on Digital Transformation, stressed that the sector has played a significant role in national digital transformation. Read full story - State President Nguyen Xuan Phuc on August 4 hosted a reception for Governor of Gunma prefecture of Japan Yamamoto Ichita who is on a working visit to Vietnam. Participants at the reception (Photo: VNA) During the meeting, the leader spotlighted the strong and comprehensive development of the Vietnam – Japan extensive strategic partnership with high political trust, saying that regular … [Read more...] about ☕ Afternoon briefing on August 4

Illustrative image Benefits and worries Referring to the increasing value of the US dollar, Mr. Nguyen Chi Trung, Chairman of the Board of Directors of the Gia Dinh Group, said that big exporters such as Gia Dinh shoes will certainly benefit as they will have more revenue to reduce the pressure of input costs which have been increasing continuously over the last months. Mr. Trung cited that the previous exchange rate was about VND22,600 for one US dollar and when an enterprise exported US$1 million worth, it could earn about VND22.6 billion. Now, if the exchange rate is anchored at VND23,900 for one US dollar than the figure will be about VND23.9 billion. It is true that there will be an immediate benefit to be seen by many export groups. However, according to Mr. Nguyen Xuan Hong, Chairman of the Ho Chi Minh City Textile and Garment Embroidery Association, in general when the dollar appreciates it will be seen as favorable for many exporters, including textile and garment … [Read more...] about Rising inflation causing concern for export businesses

Making clothes at a garment company in Ha Noi. Clothing is among the top 5 export products to UK markets. — VNA/VNS Photo Viet Nam enjoyed a trade surplus of 3.9 billion pounds (over US$4.7 billion) in the four quarters to the end of March 2022, up nearly 22 per cent over the same period to 2021, reported the UK’s Department for International Trade. The data released early this week showed total trade in goods and services (exports plus imports) between the UK and Viet Nam was 5.7 billion pounds, an increase of 15 per cent year-on-year. During the reviewed period, total UK exports to Viet Nam amounted to 905 million pounds (an increase of 0.2 per cent), of which export of goods accounted for 68.3 per cent at 618 million pounds, up 3 per cent year-on-year, while services were 287 million pounds, making up 31.7 per cent and down 5.3 per cent year-on-year. Major products shipped from the UK to Viet Nam included pulp and waste paper (74.4 million pounds), medicinal and … [Read more...] about Viet Nam records $4.7 billion trade surplus with UK over 12 months