The domestic textile and garment industry is expected to reach its export revenue target of 40 billion USD this year despite facing many difficulties, said Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS).
The Vietnam Textile and Apparel Association (VITAS) said the total export value of textiles, fiber, and cloth reached 25.7 billion USD in the first eight months of the year, up 8.6 percent year on year, including 60.6 percent from foreign direct investment (FDI) enterprises.
According to Vietnam Textile and Garment Group (Vinatex), rules of origin under the EU-Vietnam Free Trade Agreement (EVFTA) seem more comfortable than those regulated in the CPTPP.
The Garment 10 Corporation and a number of member enterprises of the Vietnam Textile and Garment Group (Vinatex) will visit Canada to seek opportunities to export garment and textile products to the market.
Vietnam's yarn industry faces many challenges in production and export, especially to China, one of the largest export markets for local yarn products, according to experts.
The stock market will feature a series of initial public offerings (IPOs) by State-owned enterprises (SoEs), including mega corporations, this year-end.
State-owned enterprises and local businesses should pay due attention to training workers for the fourth industrial revolution (Industry 4.0) so that they are not rendered redundant, experts said.
Prime Minister Nguyen Xuan Phuc has urged the Vietnam National Textile and Garment Group (Vinatex) to undertake comprehensive reform to develop its production and business.
The Vietnam Textile and Garment Group (Vinatex) will mobilise 5 trillion VND (242 million USD) for fibre, textile and garment development to boost this year’s production.
Up to 27 projects of seven State corporations are listed in the Ministry of Industry and Trade’s directive as being liable to cause environmental pollution.
Vietnam’s garment-textile sector still plays a passive role in the global supply chain (GVC) as they mainly specialise in straightforward production stages without studying market demands.
The Vietnam Textile and Garment Group (Vinatex) will invest 210 billion VND (91 million USD) into building its second factory in the Mekong Delta province of Kien Giang.
The Vietnamese retail market has seen some mergers and acquisitions (M&A) between foreign and Vietnamese enterprises, thanks to the huge development potential of the retail sector.
Crowds of customers flocked to the Vietnam Fashion Fair 2015 opened in Hanoi on December 22 to pick up the best garment-textile products from the local fashion industry.
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