Vietnam’s textile, garment and footwear sectors aim to achieve a total export value of 77-80 billion USD in 2025 and 106-108 billion USD in 2030, according to the strategy for the development of Vietnam’s textile and footwear industry.
Vietnamese people in the old days put up tall bamboo poles with red garment strips hanging from them during Tet, believing that poles prevented ghosts and monsters from entering the community during the holiday. The tradition of raising the Neu (or Tet) pole remains alive today in many villages and homes around the country.
Vietnam has enjoyed substantial export growth to members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) in the three years since it came into effect.
Foreign direct investment inflow from China to Vietnam is expected to rise as China is to reopen its doors and resume flights between the two countries, according to Agribank Securities Company (known as Agriseco).
Textile and garment exports may reach 47 - 48 billion USD in the positive scenario for 2023 and 45 - 46 billion USD in the lower-case scenario, said the Vietnam Textile and Apparel Association (VITAS).
Hanoi recorded year-on-year growth of 8.89% in gross regional domestic product (GRDP) in 2022, higher than the target of 7 - 7.5%, according to the municipal Statistics Office.
Vietnam’s textile and garment export turnover to Indonesia reached over 10 million USD in September 2022, more than four times that of the previous month.
The textile and garment sector has predicted that difficulties will remain for its exports in the first half of 2023, but there are also silver linings it can pin hopes on.
Vietnam’s textile and garment export turnover to Indonesia reached 10.057 million USD in September 2022, more than four times that of the previous month.
The garment-textile industry enjoyed a rosy year in 2022 despite formidable challenges, as its export revenue hit the set target of 44 billion USD, up 8.8% year-on-year.
The Trade Office and Embassy of Vietnam opened the country’s pavilion at Intex South Asia, an international textile sourcing show held in New Delhi on December 8.
Enterprises in the textile, garment and footwear industries are facing difficulties on a variety of fronts, including a reduction in export orders, and the plight is likely to continue until the first half of next year.
The Vietnam Textile and Apparel Association (VITAS) has set a goal of helping Vietnam's textile and garment industry be more environmentally friendly by 2030.
The Vietnam Textile and Apparel Association expects signs of prosperity in 2023, forecasting that the number of exports will continue to grow stronger.
The Vietnam Trade Office in Australia has introduced high-quality Vietnamese garment and textile products at a recent exhibition, which was part of the International Sourcing Expo Australia.
There remain difficulties for enterprises in the last months of this year, requiring them to be proactive and flexible to finish the year with strong export performance.
Vietnam exported 4.94 billion USD worth of goods to Cambodia in the first 10 months of this year, up 25.6% year on year, higher than the figure recorded in the whole 2021, according to the General Department of Vietnam Customs.
An official has advised businesses to adopt green practices to secure sustainable growth in textile and garment export to Canada, where Vietnam ranks second among the exporters of such products.
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