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GARMENT / TEXTILE

MANUFACTURING SEES MODEST UPTICK IN JANUARY

The resurgence was primarily driven by expansions in new orders and production, propelled by a modest rise in total new business. Both domestic and export markets exhibited signs of recovery, prompting firms to increase production volumes, with intermediate goods producers experiencing the most significant upturn.

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GARMENT / TEXTILE

TEXTILE EXPORTS IN 2023 FACE MOST DIFFICULT YEAR IN THREE DECADES

This year is predicted to be difficult for textile and garment businesses following a challenging 2023. Expanding customer bases and diversifying products are the necessary solutions to maintain production and grow businesses, experts say.

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GARMENT / TEXTILE

TEXTILE, GARMENT INDUSTRY TARGETS US$44 BILLION EXPORT TURNOVER NEXT YEAR

Export turnover of the textile and garment sector is expected to reach US$44 billion in 2024, up 9.2 percent against 2023, according to the Viet Nam Textile and Apparel Association (VITAS). This year, the sector's export value is projected to fall by 9.2 percent year on year to US$40.3 billion due to decrease in orders and price as well as fiercer competition, said VITAS President Vu Duc Giang.

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GARMENT / TEXTILE

HIGH COSTS HURDLE TO RECYCLING IN TEXTILES

Textile producers see recycling as the go-to solution to the environmental woes in the industry, but they are facing some obstacles to turning waste into value. Hứa Phú Doãn, Deputy Director of the Việt Nam Waste Recycling Association, underlined several obstacles in the way of producers trying to recycle waste.

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GARMENT / TEXTILE

VIETNAM, ROK STRENGTHEN TEXTILE COOPERATION

Seoul – The Vietnam Textile and Apparel Association (VITAS) and the Korea Federation of Textile Industries (KOFOTI) have signed a memorandum of understanding (MoU) to strengthen bilateral cooperation, KOFOTI announced on August 24.

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GARMENT / TEXTILE

TEXTILE APPAREL SECTOR LOSING ADVANTAGE IN PRICE COMPETITION

Many producers in the textile apparel sector are on tenterhooks as export orders are increasingly shifting to other countries like Bangladesh or India for more favourable pricing. Thanh Cong Textile Garment Investment and Trading JSC (TCM) incurred shortages of export orders from the second quarter (Q2) of this year, leaving its factories running below their capacity.

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GARMENT / TEXTILE

70,000 GARMENT AND TEXTILES JOB CUTS SINCE JANUARY

According to a report of the Ministry of Labour, Invalids and Social Affairs (MoLISA) released on June 5, workers in the garment and textile sector suffered the most from a series of job cuts in the first five months of this year, with 70,000 workers losing their jobs and 66,600 having their working hours reduced.

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GARMENT / TEXTILE

LISTED TEXTILES ENTERPRISES FACE NEGATIVE PROSPECTS THIS YEAR

In the first quarter of the year, Vietnamese textile and garment exports decreased nearly 18 per cent on-year to more than US$7 billion, according to General Department of Vietnam Customs statistics.


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