The textile and garment sector's export value is expected to earn 7.5billion USD during the first nine months, a 17 percent increase againstthe same period last year, reports the Vietnam Textile and ApparelAssociation.
The industry is likely to surpass its scheduled 10.5 billion USD benchmark for the year.
The sector's solid performance is attributed to an increase in ordersfrom foreign clients and the products' prices increased by 15-20percent.
Export growth to the European market keep stagnant, while other markets remain accelerating during the period.
The country's export to the US market increases around 20 percentand to Japan raises by 15 percent and to ASEAN nations goes up by 17percent.
Especially, the trade agreement betweenASEAN with the Republic of Korea has helped boost Vietnamesegarments' export to the market with the sharp increase of 80 percent.
The association reported that many garment makers hadso far received enough orders for export this year, and signed contractsfor export next year.
However, the associationclaimed that the early orders may shrink profit of the enterprises amidon-rising prices of input materials, accessories and higher salaries.
To satisfy increasing demand of internationalcontracts, ten companies under the Vietnam National Textile and GarmentGroup (Vinatex) have recently made production expansion investments tomeet increasing orders from foreign partners as well as higher demand atthe local market.
The Nha Be Garment Joint stock Cohas approved a plan to inject thousands of billions of dong toimplement tens of projects on textile, garment, washing and dyeing.
The Dap Cau Garment Joint Stock Co invested nearly 100 billion VND(5.13 million USD) in a new factory in the northern province of BacNinh. It was put into operation in February and has the capacity toproduce 9 million products annually.
Nguyen DangLuan, chairman of Dap Cau Co, said the new facility would help the firmmeet the rising number of export contracts.
"Whenthe factory was prepared to begin operating the first 16 productionlines the firm had already signed export deals for the whole year withthree partners, generating 1,800 jobs," Luan said./.
The industry is likely to surpass its scheduled 10.5 billion USD benchmark for the year.
The sector's solid performance is attributed to an increase in ordersfrom foreign clients and the products' prices increased by 15-20percent.
Export growth to the European market keep stagnant, while other markets remain accelerating during the period.
The country's export to the US market increases around 20 percentand to Japan raises by 15 percent and to ASEAN nations goes up by 17percent.
Especially, the trade agreement betweenASEAN with the Republic of Korea has helped boost Vietnamesegarments' export to the market with the sharp increase of 80 percent.
The association reported that many garment makers hadso far received enough orders for export this year, and signed contractsfor export next year.
However, the associationclaimed that the early orders may shrink profit of the enterprises amidon-rising prices of input materials, accessories and higher salaries.
To satisfy increasing demand of internationalcontracts, ten companies under the Vietnam National Textile and GarmentGroup (Vinatex) have recently made production expansion investments tomeet increasing orders from foreign partners as well as higher demand atthe local market.
The Nha Be Garment Joint stock Cohas approved a plan to inject thousands of billions of dong toimplement tens of projects on textile, garment, washing and dyeing.
The Dap Cau Garment Joint Stock Co invested nearly 100 billion VND(5.13 million USD) in a new factory in the northern province of BacNinh. It was put into operation in February and has the capacity toproduce 9 million products annually.
Nguyen DangLuan, chairman of Dap Cau Co, said the new facility would help the firmmeet the rising number of export contracts.
"Whenthe factory was prepared to begin operating the first 16 productionlines the firm had already signed export deals for the whole year withthree partners, generating 1,800 jobs," Luan said./.
