Business News

[02-05-2016] The domestic garment and textile industry wants to revise a development plan to 2020 with vision for 2030, to match the progress of the country. The current plan was approved in April 2014, and it is expected that Viet Nam garment exports will reach between US$20 billion and $25 billion by 2020.

[28-04-2016] Of the figure, the State sector and the Foreign Direct Investment (FDI) sector contributed US$2 billion and US$3.08 billion, up 6.4% and 6.7%, respectively. The U.S. was the largest importer of Viet Nam’s textile with US$2.53 billion, up 6.57%. It was followed by the EU with US$692 million, up 7.3%, Japan with US$640 million, up 0.62%, the Republic of Korea with US$531.1 million, up 12.37%.

[11-04-2016] The Government has offered financial support to the Viet Nam National Textile and Garment Group (Vinatex) for training the labour force in the textile and garment industry this year. The funds worth of VND63.5 billion (US$2.9 million) would come from the State budget for education and training activities, reported the Dau Tu (Investment) online.

[05-04-2016] "Vietnam’s garment & textile exports used to grow 8 per cent every year when the trade agreements had not been applied and this was still one of the key industries of the economy.

[30-03-2016] Viet Nam’s textile and apparel sector remained passive in global value chains, said Nguyen Cam Tu, deputy minister of industry and trade, at a workshop yesterday in Ha Noi. The workshop discussed ways to promote the participation of APEC small- and medium-sized enterprises (SMEs) of textile and apparel global value chains.

[13-02-2016] US capital continues flowing into Vietnam in anticipation of the opportunities to be brought by TPP (Trans Pacific Partnership) and other free trade agreements (FTAs). Just after six months after opening, a bonded warehouse in Long Binh Industrial Zone in Dong Nai province is at full capacity. It supplies dyes and chemicals, and is run by Huntsman Textile Effects.

[01-12-2015] The garment and textile sector expects its exports will grow an average of 11.5 per cent per year between now and 2020, the Viet Nam Textile and Apparel Association (Vitas) said last week. Vitas reports said the sector is expected to generate export revenue of US$27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020.

[03-11-2015] Production in the garment and textile sector would be higher in the last quarter of this year as several domestic exporters have orders till the end of 2015, and even the first quarter of 2016.