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.
Vietnam's garment export turnover is expected to increase to 16.04 billion USD in the second half of this year from 14.96 billion USD in the first half, the US website Fiber2Fashion reported on August 11.
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).
Ho Chi Minh City will need about 127,000 - 147,000 workers from now to the end of this year, and the demand varies according to the COVID-19 situation, the city’s Human Resources Forecast and Labour Market Information (FALMI) Centre said on July 27.
Export revenue of the garment and textile sector surged 21.2 percent year on year in the first five months of 2021 to about 15.2 billion USD, according to the Vietnam Textile and Apparel Association (VITAS).
Despite COVID-19 cutting into demand for textiles and garments, enterprises have poured investment into materials to improve production capacity, completing the supply chain and taking advantage of new generation free trade agreements (FTAs) that have come into effect.
Vietnam’s textile and garment exports grew 9 percent to over 9.5 billion USD in the first four months of 2021, with shipments of cord fabric and fibre and yarn increasing 35.7 percent and 43.4 percent, respectively, year-on-year.
The Vietnam Textile and Apparel Association (VITAS) is committed to promoting the sector’s sustainable development with the aim of raising the living standards of its employees under the UN’s Sustainable Development Goals (SDGs).
The effectiveness of free trade agreements, especially the EU– Vietnam Free Trade Agreement, has helped to increase export orders for textile and garment enterprises in Vietnam, leading to high recruitment demand in the first and second quarter, according to Navigos Group, a recruitment service provider in Vietnam.
Garment products from Vietnam and Taiwan (China) will be showcased at the Vietnam-Taiwan Textile and Garment Industry Exhibition held in HCM City from April 26-27.
Several of Vietnam’s key export sectors, such as textile-garment, leather-footwear, and electronics have become magnets for merger and acquisition (M&As) activities, posing a risk of leading enterprises in those sectors being purchased by foreign investors.
The target of Vietnam earning 39 billion USD from garment and textile exports in 2021 is perfectly feasible, Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS), has said.
A surge in demand for personal protective equipment (PPE) from the manufacturing sector in Vietnam due to COVID-19 pandemic, along with the orders that flowed in from around the world helped to buoy the country’s important garment-making industry with many manufacturers rejigging their facilities to produce PPE, said an article on forbes.com.
A surge in demand for personal protective equipment (PPE) from the manufacturing sector in Vietnam due to COVID-19 pandemic, along with the orders that flowed in from around the world helped to buoy the country’s important garment-making industry with many manufacturers rejigging their facilities to produce PPE, said an article on the forbes.com website.
The Bangladeshi newspaper The Daily Star has recently published an article highlighting advantages of the Vietnamese garment-textile sector, including low lead time, quality fabric, upmarket focus.
The textile and apparel industry, which managed to survive three waves of COVID-19 thanks to its decision to produce face masks and personal protective equipment, will focus on sportswear and yarn, according to the Vietnam National Textile and Garment Group.
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