Apparel makers seek ways to overcome difficulties ahead

With obstacles and challenges awaiting the garment and textile sector in the first half given a lack of recovery signal in global demand, most firms have prepared their schemes to overcome.
Apparel makers seek ways to overcome difficulties ahead ảnh 1Illustrative image (Photo: VNA)

Hanoi (VNA) – With obstacles and challenges awaiting the garment and textile sector in the first half given a lack of recovery signal in global demand, most firms have prepared their schemes to overcome.

The sector earned 44 billion USD from exports in 2022, up 8.8% year-on-year. The figure is aimed to hit 47-48 billion USD this year.

Stepping into 2023, apparel makers have seen quieter markets at home and abroad, recording high inventory levels and low orders for the first six months over concerns of high inflation. Overseas buyers are paying less and requiring more about the quality, sustainability, and origin of the products, while the domestic market has experienced a plunge in the number of orders, particularly for the first and second quarters which are not the peak periods of fashion in a year.

To deal with the situation, Pham Quang Anh, director of the Dony garment company, said it has found a source of new clients and developed more products serving its traditional ones.

Meanwhile, Tran Van Quy, director of the Trung Quy textile company, said his firm has turned to green, recycled, and organic goods for the US market. This means a shakeup of the factory system, labour training, and quality assessment to obtain related international accreditations, according to him.

Trung Quy has also changed the investment proportions for domestic and overseas markets to 50% and 50% from the previous 30% and 70%, respectively, Quy said./.

VNA

See more

The Lao Bao border gate, Huong Hoa district, Quang Tri province. (Photo: VNA)

Nearly 200 projects registered in Quang Tri's IPs

Two economic zones and two industrial parks in the central province of Quang Tri have so far attracted nearly 200 investment projects, with a total registered capital exceeding 172.4 trillion VND (6.78 billion USD) and a planned land use of over 5,978ha.

At the meeting (Photo: VNA)

PM urges business leaders to drive economic growth

Prime Minister Pham Minh Chinh encouraged businesses to actively engage in large-scale national projects, such as the North-South high-speed railway, standard-gauge railways connecting with China, urban railways, and the nuclear power project.

Production at Minerals Holding Corporation in Lao Cai province. (Photo: VNA)

Vietnam’s industrial production inches up 0.6% in January

According to Director of the GSO’s Industry and Construction Statistics Department Phi Thi Huong Nga, Vietnam could achieve breakthrough industrial growth in 2025 and beyond by leveraging its advantages and accelerating digital and green transformation as well as meeting the increasingly stringent requirements of the international market.