Business News

The domestic garment industry has faced many challenges in exporting to key markets, such as the European Union (EU) and the United States, but it still has a chance of achieving its export target this year, according to experts.

[28-12-2016] Vietnam’s export of garment and shoes seems poised to record significantly lower growth this year. The numbers for the whole year of 2016 are not available yet, but according to the General Department of Vietnam Customs, the total export of garment and textile products was $22.58 billion in the year to December 15, up 4.8 per cent on-year. This is the lowest growth in 10 years.

[27-12-2016] Domestic textile enterprises and logistics service providers should work together to reduce costs and improve their competitiveness, according to experts. Nguyễn Tường, Vice Chairman of the Việt Nam Logistics Association, said the textile industry needs to import raw materials from abroad and export products to foreign markets.

[06-12-2016] Many textile and garment enterprises are investing in textile and dyeing complexes to ensure material for sustainable development, Vietnam Television (VTV)reported recently. To avail themselves of business opportunities from the Trans-Pacific Partnership (TPP) agreement, many textile and garment firms have over the past two years started building textile and dyeing complexes.

[29-10-2016] Representatives from public private partnerships (PPP) in apparel and footwear yesterday signed a co-operation agreement for the two sectors’ sustainable development in Việt Nam. The co-operation, which is the first of its kind in Việt Nam, marks a new step in promoting the sustainable development of the apparel and footwear sectors in terms of economy, society and environment.

[02-10-2016] Unlike two years ago, when Vietnam witnessed a wave of foreign direct investment (FDI) in textile & garment projects, the capital flow into the sector has slowed down. A series of huge projects with investment capital of billions of dollars were registered in 2014 and 2015.

[23-09-2016] Vietnam's textile-garment exports still increased in the first first eight months of this year but at a slower pace than in the same period last year. Vietnam shipped abroad US$18.7 billion worth of textile-garment products in the January-August period, up 4.4% year-on-year, according to the Vietnam Cotton and Spinning Association (VCOSA).

[05-09-2016] “During the first quarter of 2016, the ministry became aware that a number of factories had been inactive for months, and in some cases had closed down, but had not provided official notice to the ministry and thus had not been recorded as such in the database.