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GARMENT FIRMS AWAIT TPP OPPORTUNITIES
[01-09-2015] Garments and textile businesses are striving hard to be at the forefront to avail opportunities ushered in by the Trans-Pacific Partnership (TPP). As garments and textile sector is viewed as one of the industries which will benefit the most from TPP, many businesses are proactively putting in place measures to be able to avail these opportunities such as investing in modern production lines, upgrading facilities, improving design and product quality and finding access to the market.
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NEW WAVE OF FDI IN TEXTILE SECTOR SHAPING
[20-08-2015] The textile sector ranked second in attracting foreign direct investment (FDI) with more than US$1.12 billion in the first seven months of 2015, according to the Foreign Investment Agency, under the Ministry of Planning and Investment. The figure accounts for more than 20% of Viet Nam’s total foreign investment inflows in the reviewed period, the agency said.
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VIETNAM BECOMES WORLD€™S FOURTH LARGEST GARMENT EXPORTER
[24-06-2015] Vietnam is now the fourth largest textile exporter in the world with 12.18 billion USD earned from these products in the first six months of this year, according to the Vietnam National Textile and Garment Group (Vinatex). The figure represented a 10.26 percent increase from the same period last year.
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GARMENT SECTOR EARNS OVER USD12 BILLION FROM EXPORTS
[22-06-2015] Garment and textile export turnover reached USD12.18 billion in the first six months of 2015, a 10.26% increase compared to the same period last year. The US is still the biggest importer of Vietnam’s garment and textile products, making up 42% of the country’s total at USD5.18 billion, up over 11.01%. It was followed by the EU at USD1.45 billion, up 8.2%.
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COTTON IMPORTS GROW STRONGLY
[12-06-2015] Enterprises in Vietnam spent US$712 million importing 447,000 tons of cotton in the first five months of this year, up 35.2% in volume and 8.9% in value compared to the same period last year. The volume included 105,000 tons of cotton worth US$166 million, growing 39.1% in volume and 8.9% in value, Vietnam Television (VTV) reports, citing figures of the Vietnam Textile and Garment Association (Vitas).
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INDUSTRIAL GARMENT AND TEXTILE UNIVERSITY GETS GREEN LIGHT
[05-06-2015] Prime Minister Nguyen Tan Dung has approved the establishment of Ha Noi Industrial Garment and Textile University, which was originally Ha Noi College for Textile, Garment and Fashion in Ha Noi. The university will operate as a self-run model under the management of the education and training ministry.
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GARMENTS, FOOTWEAR ON EXPORT HIGH
[03-06-2015] Textile and garment industries, as well as leather and footwear, recorded high growth in production and exports during the first five months of this year. The Ministry of Industry and Trade reported on Monday that in the first five months of this year, the textile and garment industry produced 118.2 million sq.m. of natural fibre (a year-on-year increase of 2.3 per cent), 287.1 million sq.m. of synthetic and artificial fibre (a year-on-year surge of 1.8 per cent), and 1.21 billion units of cloths (a year-on-year surge of 2.3 per cent).
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TOUGHER COMPETITION FOR APPAREL SECTOR AHEAD
[12-04-2015] Experts have called on apparel enterprises to improve product quality and prepare to face tougher competition in the next five years. Speaking at the Vietnam Saigon Fabric & Garment Industry Expo (Saigon Tex) 2015 in HCMC on April 9, Hoang Ve Dung, deputy general director of Vietnam National Textile and Garment Group (Vinatex), said Vietnam will sign more bilateral and multilateral free trade agreements, thus offering multiple opportunities but at the same time exposing them to more challenges.