Want to be in the loop?
subscribe to
our notification
Business News
LARGE TEXTILE PRODUCTION ZONES PROPOSED
The ministry has also proposed that the Government provide full support for the building of textile and garment industrial zones located in provinces and cities expperiencing socio-economic difficulties in order to create conditions for the success of small and medium startup enterprises, according to the ministry.
The proposal also targets the development of transport infrastructure connecting the large industrial zones to ports and logistic centres and reduce transportation costs.
The Việt Nam Textile and Apparel Association (Vitas), which sent to the Government a document detailing the difficulties of textile and garment enterprises and proposed solutions, supports the IZ plan.
The association also suggested the Government provide credit for enterprises to build waste water treatment centres at those industrial zones.
Exports in H1
Textile and garment exports grew in the first half of this year, but local firms face difficulties in obtaining production and export contracts for the second half of 2016, according to the Ministry of Industry and Trade (MoIT).
The ministry reported a six-percent export increase in the first half of this year to US$12.8 billion.
The industry also saw growth in export value to its major markets, including the US, increasing by 5.9 per cent to $4.29 billion; Japan with an increase of 2.9 per cent to $1.04 billion; South Korea with exports 15.58 per cent higher at $764.9 million.
Nguyá»…n Thị Huyá»n, Director of the Garment 10 Joint Stock Company, said she was not optimistic about production by the end of the year, while Brexit is expected to harm the price competition for garment exports.
According to Trần Văn Khang, Director of Äồng Bình JSC, there has been a lack of export orders since the beginning of the year, triggering stiff competition among domestic manufacturers for customers. Khang said his firm experienced a 30-percent drop in the number of orders in the first five months, for which he blamed overstocking and falling demand in import markets. In addition, export prices have plunged by 10-15 per cent, while the firm still has to pay wages, insurance and transportation costs, which are on the rise, he added.
Phí Việt Trịnh, Deputy Director of Hồ GÆ°Æ¡m Garment SJC, said the company’s overseas orders fell significantly in March and April, and only started to rebound in June. Several trade deals, including the Trans-Pacific Partnership (TPP) and the Vietnam-EU Free Trade Agreement, have not yet come into effect so that Vietnam’s garment customers could not benefit from a preferential tax regime and turned to other foreign manufacturers with more tariff advantages.
Many of Việt Nam’s traditional customers shifted their orders to Myanmar, Laos and Cambodia, which enjoy reduced import duties in the US and the EU, the two largest buyers of Vietnamese garments, said the Chairman of the Việt Nam Textile and Garment Association (Vitas), VÅ© Äức Giang.
Việt Nam’s 2016 textile and garment exports are expected to reach a total value of $31 billion.
Source: VNS
Related News
MEMBER CORNER / PROMOTIONS
VIETNAM'S MANUFACTURING STORY HAS CHANGED IN 2026
Vietnam is no longer attracting investment solely because of its competitive costs. Today, global manufacturers are increasingly choosing Vietnam for its expanding industrial ecosystem, resilient supply chains and growing role in high-value sectors such as semiconductors, electronics and advanced manufacturing.
BANKING / FINANCE / INSURANCE / TAX
VIETNAM NEEDS OVER $200BN FROM STOCK MARKET IN NEXT 5 YEARS
Speaking at the event, Bui Hoang Hai, vice-chairman of the State Securities Commission of Vietnam, said total investment demand in the 2026-30 period is estimated at VND38,000 trillion ($1.4 trillion). The state budget can only provide approximately VND8,500 trillion ($323 billion), or 20 percent, leaving the remaining 80 percent to be sourced from private and international capital.
VIETNAM ECONOMY INVESTMENT
HUNG YEN BUILDS DIGITAL FOUNDATIONS TO DRIVE LONG-TERM GROWTH
From strengthening data infrastructure to developing AI platforms, Hung Yen province is enhancing governance capacity while laying the groundwork for the growth of its digital economy. Hung Yen, about 50-60km southeast of Hanoi, has maintained steady momentum in implementing its digital transformation agenda, creating a stronger foundation for the province to advance science, technology, and innovation.
VIETNAM ECONOMY INVESTMENT
CHINESE INVESTMENT WAVE OPENS NEW DOORS
As Chinese companies move beyond factory relocation to ecosystem-driven investment, Vietnam has a rare opportunity to evolve from a low-cost production base into a strategic node in regional value chains. When global companies first diversified supply chains, the focus was largely on relocating manufacturing capacity.
VIETNAM ECONOMY INVESTMENT
VIỆT NAM STEPS UP EXPORT TO ACHIEVE US$550-BILLION TARGET
Việt Nam is intensifying efforts to sustain export momentum in the second half of 2026 as the country works towards its target of US$550 billion in export revenue for the year, despite continuing uncertainties in global trade. Statistics show that exports reached $266.5 billion in the first six months, meaning the economy needs to generate around $245.5 billion more during the remainder of the year to meet the annual goal.
VIETNAM ECONOMY INVESTMENT
ASIA POWERS VIETNAM’S SHRIMP BOOM, LEAVING THE WEST BEHIND
In the first half of 2026, Vietnam's shrimp exports surpassed the US$2.3 billion mark, driven largely by booming demand from China and a lobster craze. But behind that growth figure lies a lopsided picture: Asia is carrying the load, while the U.S. and Europe have yet to break out. These days, a container of frozen shrimp leaving a Ho Chi Minh City port is more likely to cross the East Vietnam Sea to Shanghai than the Pacific to Los Angeles.
Events Sponsors
