A garment factory in Vietnam (Photo: VNA) Hanoi (VNA) – Textile and garment businesses in Vietnam are taking steps to switch to green production to meet partners’ demand and achieve sustainable development, the Cong Thuong (Industry & Trade) newspaper reported. Greening textile and garment production chains is currently a global trend that are compulsory for businesses to achieve sustainability. It is also a requirement placed on manufacturers as the EU, which imports over 4 billion USD worth of textiles and garments from Vietnam annually, has proposed the imposition of some eco-regulations on imports. Major fashion brands in the world are also prioritising green enterprises to place their orders or requesting suppliers to adopt green practices. Facing challenges and strict requirements from the market, many Vietnamese businesses are making changes towards green manufacturing, including upgrading factories and using recycled fabric and green energy. Among … [Read more...] about Textile, garment firms switching to green production
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Vietnam continues to push for stronger ties with US: PM
Vietnam considers the US as one of its most important partners and welcomes the US to support a strong, independent, and prosperous Vietnam. Vietnam aims to enhance the Comprehensive Partnership with the US, focusing on mutually beneficial outcomes that generate employment opportunities and growth for both nations. Overview of the meeting. Photos: Nhat Bac “Such an effort would contribute to supporting global and regional stability, cooperation, and development while promoting peace and harmony.” Prime Minister Pham Minh Chinh stressed the remarks during a meeting with a delegation of the US-ASEAN Business Council (USABC) today [March 22]. At the meeting, Chinh welcomed a delegation of over 50 large US enterprises to visit and work in Vietnam, coinciding with the 10th anniversary of the Vietnam-US Comprehensive Partnership (2013-2023). The Prime Minister expressed gratitude to the US Government and businesses for their support in providing vaccines and … [Read more...] about Vietnam continues to push for stronger ties with US: PM
Minister hopes U.S. becomes biggest investor in Vietnam
He made the remark at a meeting with a business delegation of the U.S. - ASEAN Business Council (USABC) in Hanoi on March 21. Highlighting the two countries’ comprehensive and fruitful relations, Minister Dung said the U.S. is currently the second largest trading partner and one of the leading export markets of Vietnam. It is also an important ODA provider and the 11th biggest among the 142 countries and territories investing in the Southeast Asian nation. Vietnam highly values the fruitful investment and business activities of U.S. investors and hopes they will maintain their trust and expand investment, trade, and development cooperation in the country, he noted. The official was of the view that there is huge cooperation potential in the fields of green growth, digital economy, science - technology development, and innovation, adding that Vietnam encourages and prioritizes quality and focus-driven foreign direct investment. The country is also implementing policies to help … [Read more...] about Minister hopes U.S. becomes biggest investor in Vietnam
ASEAN can grow inclusively, sustainably
Chief executive for capital markets, financial derivatives, and carbon exchange supervision of the Financial Services Authority (OJK), Inarno Djajadi, at the 38th ACMF Chairs’ Meeting, which was held in a hybrid format in Yogyakarta on March 20, 2023. (Photo: ANTARA) Jakarta (VNA) - The Financial Services Authority (OJK) of Indonesia , as the chair of the 2023 ASEAN Capital Market Forum (ACMF), is optimistic that ASEAN can achieve fast, inclusive, and sustainable economic growth . He said that the ACMF, as a regional capital market regulatory group, can contribute to ASEAN countries' economic transition toward a low-carbon economy , especially in the six sectors prioritized in the ASEAN Taxonomy Version 1. According to Djajadi, ACMF will also develop a transition guideline so that companies can carry out the transition process in a transparent and credible manner. This year, ACMF is looking forward to launching the Sustainable Finance Knowledge … [Read more...] about ASEAN can grow inclusively, sustainably
Viet Nam promises optimal conditions for US enterprises: PM
Prime Minister Phạm Minh Chính and delegates of the US-ASEAN Business Council in Ha Noi on Wednesday. —VNA/VNS Photo Duong Giang The Vietnamese Government will continue to create favourable conditions for US businesses to expand investment in Viet Nam and support Vietnamese enterprises participating deeply in the production value chain of US enterprises. Prime Minister Pham Minh Chinh delivered this statement during a working session with the delegation of the US-ASEAN Business Council (USABC) in Ha Noi yesterday. The PM said that Viet Nam considered the US one of its most important partners and wanted to deepen the comprehensive bilateral partnership. He also praised the US business community's production and investment activities in Viet Nam, saying that the Vietnamese Government was willing to listen to the US businesses' opinions. The PM noted that the Vietnamese Government would accompany US businesses to solve difficulties and successfully implement their investment … [Read more...] about Viet Nam promises optimal conditions for US enterprises: PM
International innovative fabric exhibition opens in HCM City
Visitors see yarn made from pineapple leaves at the Vietnam Texfuture Spring Summer being held at GEM Center in HCM City’s District 1 until March 24. — VNS Photo Vietnam Texfuture Spring Summer, an international exhibition on high-end fabric exhibition that opened in HCM City on Tuesday, seeks to inspire the use of sustainable fabrics by local producers. It has attracted more than 200 Vietnamese and foreign exhibitors who are displaying sustainable, fashion and functional fabrics, garment and textile techniques and solutions, circular economy solutions, textile raw materials, home textiles, and accessories. The exhibition also includes seminars on trends that will shape global fashion through 2024 spring and summer, the new age of design and how to minimise fabric textures to reduce the impact on the environment, according to the organisers. Visitors can see yarns made from natural materials such as ramie from Thien Phuoc Ramie Group JSC and pineapple leaves from ECOSOI, silk … [Read more...] about International innovative fabric exhibition opens in HCM City
Major US companies laud Vietnam as strategic market
At a Wednesday meeting between Prime Minister Pham Minh Chinh and the delegation of the U.S.-ASEAN Business Council (USABC), the council's president Ted Osius said U.S. businesses consider Vietnam a strategic market and are ready to commit to long-term investments in the Southeast Asian nation. Osius said the delegation were highly supportive of the Vietnamese government’s moves towards a more digital and green society. He also encouraged steps the country has taken in infrastructure development, such as the construction of new highways and metro rail public transit options, the Vietnam Government Portal reported. U.S. ambassador to Vietnam Marc Knapper said the American grouping at the meeting was the largest U.S. business delegation to ever visit Vietnam. He said this confirmed the commitment of the U.S. government and the private sector to support a strong and prosperous Vietnam via cooperation. At the meeting, the delegation proposed new ideas and opportunities for business … [Read more...] about Major US companies laud Vietnam as strategic market