Vietnam has surpassed the Republic of Korea to become the world’s sixth largest fibre and yarn exporter after shipping abroad 2.37 billion USD worth of these items in the first five months of 2022.
Textile and garment export turnover in the first six months of 2022 is estimated to increase 23% on-year to about 22 billion USD, reaching the highest level ever, according to the Vietnam Textile and Apparel Association.
Vietnamese goods are benefitting from better quality, diverse designs and competitive prices to establish their place on the domestic and global markets.
The Vietnam National Textile and Garment Group (Vinatex) enjoyed a year-in-year surge of 144.2 percent in revenue to over 5.15 trillion VND (224.26 million USD) in the first quarter of 2022, completing 28.5 percent of its target for the whole year.
The textile and garment industry is forecast to have a bright prospect in 2022, but as share prices have increased sharply since 2021, many stocks may not continue to rise significantly.
Vietnam's textile and garment industry is making efforts to realise its green production target and reduce emissions in a bid to help implement the Government’s commitment to net-zero emissions by 2050 at the 26th United Nations Climate Change Conference of the Parties (COP26).
Textile and garment is one of Vietnam's key export products, accounting for about 10% of total export turnover in 2021. Last year, the US continued to be the largest consumption market of textiles, garments, accounting for nearly 50% of Vietnam's total textile and garment export turnover.
Vietnam National Textile and Garment Group (Vinatex)’s post-tax profit in the last quarter of 2021 was nearly 500 billion VND (22.03 million USD), tripling the figure recorded in the same period of the previous year.
Every year after the Tet (Lunar New Year) holiday, many businesses face a serious shortage of workers. Last year, due to the impact of social distancing orders, enterprises struggled with a shortage of labour. Therefore, the need to prepare the workforce for the post-Tet period is even more urgent.
After a year full of difficulties caused by the COVID-19 pandemic, many enterprises are still trying to provide their workers with rewards and gifts for the Lunar New Year (Tet) festival, to encourage their spirit and enhance bonds with the enterprises, helping to quickly restore production and maintain jobs and incomes for their employees.
An online seminar spotlighting impacts of the COVID-19 pandemic on textile, footwear and garment workers and trade union activities was held by the Vietnam General Confederation of Labour (VGCL)’s Institute for Workers and Trade Unions (IWTU), and the Netherlands Trade Union Confederation in Hanoi on December 28.
Container and warehouse shortages and surging container shipping costs have hit the textile and garment industry hard, insiders told a seminar in Ho Chi Minh City.
The textile - garment industry is expected to thrive and earn 40 billion USD in exports next year, when the COVID-19 pandemic is forecast to ease in Vietnam and the world.
The Taiwan Textile Roadshow has been held from October 6-7 directly in Hanoi and in the online format via Zoom, aiming to strengthen cooperation between Vietnam and Taiwan (China) in the textile and garment sector.
Garment products from Taiwan (China) will be showcased at the Taiwan Textile Roadshow held in Hanoi from October 6-7 at the Hanoi International Exhibition Centre at 91 Tran Hung Dao Street.
To maintain business operations amid social distancing order caused by the fourth wave of COVID-19 pandemic, it is necessary to pool the drastic involvement of local authorities, especially flexibly adopting plans to both fight the pandemic and prevent production disruption.
The textile and garment industry is forecast to face difficulties in realising its export turnover target of 39 billion USD this year due to unprecedented severe impacts caused by the COVID-19 pandemic.
The competencies of job candidates in the textile and garment industry met employers’ requirements in the first half, according to the latest report by recruitment company Navigos Group.
The proportion of textile and garment factories that have closed due to the COVID-19 pandemic has reached 30-35 percent, according to the Vietnam Textile and Apparel Association (Vitas).
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