Vietnam textile industry overview

The possibility of Vietnam’s textile industry hitting its target of $40 billion in exports this year is getting slimmer. Textile workers at the Hue Textile Garment JSC. The China-US trade war will likely result in Viet Nam's textile industry missing its US$40 billion export target for 2019. Viet Nam’s textile industry faces many difficulties with both export and production on the decrease due to effects of an intensified China-US trade war, said industry experts. “Buyers are concerned with the on-going China-US trade war and it has resulted in fewer and smaller orders,” said a report by the Ministry of Investment and Planning. Vietnamese textile companies were being hit hard as the trade war dragged on, as indicated in a performance review of the Vietnam National Textile and Garment Group (VINATEXT), one of the largest in Viet Nam. Export of raw materials to China, traditionally a major market for Vietnamese products that accounts up to 60 per cent of the … [Read more...] about Vietnamese textile industry hit by on-going trade war

Textile workers at the Hue Textile Garment JSC. The China-US trade war will likely result in Viet Nam's textile industry missing its US$40 billion export target for 2019. — VNA Photo Viet Nam’s textile industry faces many difficulties with both export and production on the decrease due to effects of an intensified China-US trade war, said industry experts. “Buyers are concerned with the on-going China-US trade war and it has resulted in fewer and smaller orders,” said a report by the Ministry of Investment and Planning. Vietnamese textile companies were being hit hard as the trade war dragged on, as indicated in a performance review of the Vietnam National Textile and Garment Group (VINATEXT), one of the largest in Viet Nam. Export of raw materials to China, traditionally a major market for Vietnamese products that accounts up to 60 per cent of the country’s total export volume, plummeted as China cut back on imports. Among the most affected was yarn … [Read more...] about Textile industry hit by on-going trade war

By applying modern technology, Vietnamese garment and textile companies have improved their productivities and meet the demand of choosy markets. In fact, before the free trade agreements became effective, garment and textile industry had attracted several large investment projects. Many enterprises invested a large amount of money in order to adopt modern technology. For instance, the Garment No.10 Corporation (Garco No.10) is considered to be the enterprise which succeeded in participating in global supply chain by applying modern technology in production and management early. At the present, 80 percent of its production is exported to the US, Germany and Japan. Garco No.10 has 18 member factories at seven cities and provinces with around 12,000 workers. The company has applied information technology software in management. Owing to that, the production time of a product has been reduced from 1,980 seconds to 1,200 seconds and to merely 690 seconds per item now. Currently, each … [Read more...] about Garment, textile industry keeps pace with Industry 4.0

Vietnam’s industrial production in the first nine months of this year rose by 9.6 percent year on year. (Photo: tinnhanhchungkhoan.vn) Hanoi (VNS/VNA) – Vietnam’s industrial production in the first nine months of this year rose by 9.6 percent year on year, a four-year record, according to the General Statistics Office (GSO). The manufacturing and processing sector led the industry sector and the whole economy with an expansion of 11.4 percent, while mining grew slightly by 2.7 percent after months of reduction. Head of the GSO’s Industrial Statistics Department Pham Dinh Thuy said Vietnam’s manufacturing and processing sector had the highest growth rate among ASEAN nations. “The domestic manufacturing and processing industry grew steadily over quarters, including 11.5 percent, 10.9 percent and 11.7 percent in the first, second and third quarters, respectively, ”Thuy said. Among industries, several sectors recorded year-on-year growth, … [Read more...] about Vietnam’s industrial production hits four-year high

The program aims to help enterprises update to new technologies and equipment as well as to help them find business partners for sustainable industrial development. This year’s fair attracted the participation of over 350 domestic and international enterprises from countries such as Korea, China, Taiwan, India, Hong Kong, Italy, and Germany. Addressing the opening ceremony, Deputy Minister of Culture, Sports and Tourism Ta Quang Dong described the Vietnam International Industrial Fair as an annual large-scale trade and investment promotional activity for domestic and international firms. At the fair The Fourth Industrial Revolution (Industry 4.0) has given the country opportunities in industrialization and modernization, while making challenges in its development process. Therefore, Vietnam enterprises working in the field of industry should try their best to serve the national market and make full use of export opportunities in competitive markets. With more … [Read more...] about Vietnam International Industrial Fair 2019 launched in Hanoi