A positive forecast for the garment and textile industry has gradually become a reality. In the first three months of this year, the industry recorded impressive growths in terms of production and exports, creating good impetus for the next quarter, according to the Vietnam Economic News.
In the first quarter of this year, the garment and textile industry ranked second in total export turnover with 4.5 billion USD, an increase of 21.9 percent compared to the same period last year. Exports to foreign markets recorded a fairly good growth.
According to Deputy General Director of the Vietnam National Textile and Garment Group (Vinatex) Pham Duy Hanh, traditional markets for Vietnam’s textile and garment industry posted high growths. The EU market ranked first in growth with an increase of 34 percent compared to the same period last year, followed by the Republic of Korea with an increase of 26 percent, Japan with an increase of 14 percent and the US with an increase of 13 percent compared to the same period last year.
A strong growth in exports of Vietnam’s garment and textile industry in the first quarter was forecasted at the beginning of this year when orders created a breakthrough. Many businesses signed contracts to the end of the third quarter, even to the end of this year. Businesses have operated at maximum production capacity. Binh Minh Garment Joint Stock Company (Bigamex) General Director Ngo Kim Quy said that the company had signed contracts to the end of the second quarter of this year.
In the first quarter of this year, fiber export turnover also increased 18.7 percent compared to the same period last year, reaching 540 million USD thanks to an increase in supply of domestic raw materials. Some projects were put into operation in 2013 such as the Phu Bai 2 Fiber Plant, Vinatex-Hong Linh Fiber Plant and Phu An Fiber Plant.
Pham Duy Hanh also said that in the first quarter of this year, Vinatex deployed 29 projects, including 6 fiber, 7 textile and 11 garment projects, 1 project on the construction of infrastructure, 3 projects on the construction of plant and 1 project on the development of cotton materials.
Vinatex Investment Joint Stock Company and two China’s firms Foshan Sanshui Jialida and Luenthai cooperated with Nam Dinh province to establish the Rang Dong Industrial Park. The project aims to develop garment and textile supply chain. The project is expected to cover an area of 1,400-1,500 hectares and will create about 200,000-300,000 jobs. The project is described as one of the country’s largest garment and textile centres.
The Deputy General Director of Vinatex Pham Duy Hanh also predicted that Vinatex would continue its good business performances in the second quarter of this yea.-VNA
In the first quarter of this year, the garment and textile industry ranked second in total export turnover with 4.5 billion USD, an increase of 21.9 percent compared to the same period last year. Exports to foreign markets recorded a fairly good growth.
According to Deputy General Director of the Vietnam National Textile and Garment Group (Vinatex) Pham Duy Hanh, traditional markets for Vietnam’s textile and garment industry posted high growths. The EU market ranked first in growth with an increase of 34 percent compared to the same period last year, followed by the Republic of Korea with an increase of 26 percent, Japan with an increase of 14 percent and the US with an increase of 13 percent compared to the same period last year.
A strong growth in exports of Vietnam’s garment and textile industry in the first quarter was forecasted at the beginning of this year when orders created a breakthrough. Many businesses signed contracts to the end of the third quarter, even to the end of this year. Businesses have operated at maximum production capacity. Binh Minh Garment Joint Stock Company (Bigamex) General Director Ngo Kim Quy said that the company had signed contracts to the end of the second quarter of this year.
In the first quarter of this year, fiber export turnover also increased 18.7 percent compared to the same period last year, reaching 540 million USD thanks to an increase in supply of domestic raw materials. Some projects were put into operation in 2013 such as the Phu Bai 2 Fiber Plant, Vinatex-Hong Linh Fiber Plant and Phu An Fiber Plant.
Pham Duy Hanh also said that in the first quarter of this year, Vinatex deployed 29 projects, including 6 fiber, 7 textile and 11 garment projects, 1 project on the construction of infrastructure, 3 projects on the construction of plant and 1 project on the development of cotton materials.
Vinatex Investment Joint Stock Company and two China’s firms Foshan Sanshui Jialida and Luenthai cooperated with Nam Dinh province to establish the Rang Dong Industrial Park. The project aims to develop garment and textile supply chain. The project is expected to cover an area of 1,400-1,500 hectares and will create about 200,000-300,000 jobs. The project is described as one of the country’s largest garment and textile centres.
The Deputy General Director of Vinatex Pham Duy Hanh also predicted that Vinatex would continue its good business performances in the second quarter of this yea.-VNA
