The PM hailed SYRE’s plan to invest in the south-central province of Binh Dinh, calling it a wise choice given the locality’s favourable business environment and well-developed infrastructure, including an airport and deep-water seaport.
Once fully operational, the plant is expected to produce up to 5 million products annually, generating estimated annual revenue of 51.3 million USD.
One of the project’s most notable achievements is the successful production of flame-resistant fabrics using heat-resistant fibre and specialised chemical treatments that prevent thermal penetration.
Supported by 17 next-generation free trade agreements (FTAs) already in effect, the industry is poised for further growth, targeting 48 billion USD in export revenue this year.
With rapid digital transformation, online sales channels are becoming an essential strategy for businesses aiming to thrive in an increasingly competitive market.
Textile and garment exports are likely to hit 44 billion USD this year, according to the Vietnam Textile and Apparel Association.
Textile and garment exports are likely to hit 44 billion USD this year, said Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang.
The Indonesian Textile Association (API) has blamed the stagnation of the textile industry for increasing influx of imports that negatively affect the local manufacturing.
A series of exhibitions in the textile and apparel sector simultaneously opened at Saigon Exhibition and Convention Centre (SECC) in Ho Chi Minh City on September 25.
Vietnam is discussing the establishment of a centre for raw materials to support the textile, leather and footwear industries, signalling a bold effort for the billion-US-dollar sectors to enhance sustainability and climb higher up the global value chain.
The majority of garment businesses have received orders to be fulfilled until September-October and even beyond. However, prices continue to be impacted by the lingering market effects of 2022-2023.
The Indonesian government on June 25 said that it will issue two protection policies, namely Safeguard Measures Import Duty (BMTP) and Anti-Dumping Import Duty (BMAD), for textiles and textile products as an effort to protect the local industry from surging imported textiles.
Tens of thousands of textile and textile product (TPT) workers in Indonesia have been laid off in the first half of this year, President of the Confederation of Indonesian Trade Unions (KSPN) Ristadi said on June 23, describing the sector’s situation as an emergency.
Vietnam’s textile and garment industry has long faced an imbalance between production stages.
