Illustrative image (Photo: VNA) Hanoi (VNS/VNA) - Vietnam’stextile and garment industry is striving to achieve export turnover of morethan 40 billion in 2019, a year-on-year increase of 14-15 percent.
Data from the Ministry of Industry and Trade (MoIT) showed that since the beginningof the year, the textile industry has achieved positive results. Compared tothe same period last year, the industry has grown by more than 12 percent.
The industry has posted growth in production of costumes (up 8.8 percent),fabric made from natural fibres (3.9 percent), synthetic fibres (19.5 percent)and casual clothes (8.7 percent).
So far this year, textile and garment export turnover is estimated at 9.43billion USD, an increase of 9.8 percent from the same period last year.
According to Le Tien Truong, general director of the Vietnam National Textileand Garment Group (Vinatex), Vietnam’s garment export industry is growing.Orders to Vietnamese enterprises have increased by 8-10 percent over the sameperiod in 2018.
Truong also emphasised the initiative of textile enterprises in seeking newmarkets. A market tour by Vinatex and 10 other large businesses in May 2019 toseek importers in Canada – a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – shows the determination of industry leadersto increase Vietnam’s market share abroad.
“Meetings with importers have been taking place, and a number of importers withrevenue of up to 1 billion Canadian dollars such as VF, Atlantic Sportwear andGiant Tiger have contacted Vietnamese textile enterprises,” Truong said.
In April, the International Exhibition of Textile and Garment Industry - Fabric& Garment Accessories in HCM City served as another opportunity for textileenterprises to expand their market. With more than 1,000 internationalsuppliers attending from 24 countries, the exhibition helped businesses getinformation about the latest production technologies and find ways to meet theneeds of domestic and international buyers.
Vietnam’s textile and garment is appreciated by foreign partners for both itsquality and order fulfilment time.
Cao Huu Hieu, Vinatex’s managing director, said that medium and large textileenterprises in Vietnam have worked to meet social responsibility and Green Labelcriteria from partners.
However, the sector also faces of a number of challenges. For example,increased trade stress is affecting service prices.
In addition, strong exporting countries consider Vietnam a rival to curb. Inorder to continue growing at the same rate, enterprises need to innovate withspecific solutions. They must develop a competitive tool set including focusingon technological innovation, saving energy and improving the productivity ofsynthetic factors through solutions such as automation.
It is necessary to link businesses through common information, artificialintelligence and big data, Hieu said. — VNS/VNA
Data from the Ministry of Industry and Trade (MoIT) showed that since the beginningof the year, the textile industry has achieved positive results. Compared tothe same period last year, the industry has grown by more than 12 percent.
The industry has posted growth in production of costumes (up 8.8 percent),fabric made from natural fibres (3.9 percent), synthetic fibres (19.5 percent)and casual clothes (8.7 percent).
So far this year, textile and garment export turnover is estimated at 9.43billion USD, an increase of 9.8 percent from the same period last year.
According to Le Tien Truong, general director of the Vietnam National Textileand Garment Group (Vinatex), Vietnam’s garment export industry is growing.Orders to Vietnamese enterprises have increased by 8-10 percent over the sameperiod in 2018.
Truong also emphasised the initiative of textile enterprises in seeking newmarkets. A market tour by Vinatex and 10 other large businesses in May 2019 toseek importers in Canada – a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) – shows the determination of industry leadersto increase Vietnam’s market share abroad.
“Meetings with importers have been taking place, and a number of importers withrevenue of up to 1 billion Canadian dollars such as VF, Atlantic Sportwear andGiant Tiger have contacted Vietnamese textile enterprises,” Truong said.
In April, the International Exhibition of Textile and Garment Industry - Fabric& Garment Accessories in HCM City served as another opportunity for textileenterprises to expand their market. With more than 1,000 internationalsuppliers attending from 24 countries, the exhibition helped businesses getinformation about the latest production technologies and find ways to meet theneeds of domestic and international buyers.
Vietnam’s textile and garment is appreciated by foreign partners for both itsquality and order fulfilment time.
Cao Huu Hieu, Vinatex’s managing director, said that medium and large textileenterprises in Vietnam have worked to meet social responsibility and Green Labelcriteria from partners.
However, the sector also faces of a number of challenges. For example,increased trade stress is affecting service prices.
In addition, strong exporting countries consider Vietnam a rival to curb. Inorder to continue growing at the same rate, enterprises need to innovate withspecific solutions. They must develop a competitive tool set including focusingon technological innovation, saving energy and improving the productivity ofsynthetic factors through solutions such as automation.
It is necessary to link businesses through common information, artificialintelligence and big data, Hieu said. — VNS/VNA
VNA
