Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM’S GARMENT-TEXTILE EXPECTS BOOM IN 2020
Vietnam’s garment-textile sector is expected to make breakthroughs in 2020 thanks to the Fourth Industrial Revolution.
Other factors including free trade agreements (FTA) that will take effect in 2020 and the penetration of international brands like Zara, H&M and Mango will also favour the industry’s growth.
The sector has made significant progress, especially in yarn and dyeing, through IT applications, as reflected in improved productivity, accelerated production and reduced labour force.
According to Truong Van Cam, Vice President of the Vietnam Textile and Apparel Association, more than 2.5 million tonnes of yarn were churned out in 2019, of which over 1.5 million tonnes valued at about US$4 billion were exported.
Fabric output also increased six times and export value clocked up US$2.1 billion, he added.
The Fourth Industrial Revolution’s impacts on production mindset and methods are tangible. An example is Duc Quan Investment and Development JSC in the northern province of Thai Binh, which has doubled its yarn output to 17,000 tonnes per year through the application of Big Data in production and management.
Garment 10 Corporation JSC has also used online business management software DIP BMS.NET to better monitor transactions of distribution chains.
Members of the Vietnam National Textile and Garment Group (Vinatex) such as Hoa Tho Textile-Garment Joint Stock Corporation, Viettien General Garment JSC and Nha Be Joint Stock Corporation have joined the trend.
Vinatex General Director Le Tien Truong said technological applications offer workers stable jobs with higher incomes while helping the group double its profits.
Optimising the achievements of the Fourth Industrial Revolution has become an inevitable trend. However, this has met with a range of difficulties, especially a severe shortage of labourers who can use the new equipment.
Humans, particular technicians, play a key role in the process, said Vinatex Managing Director Cao Huu Chien, adding that the group has mobilised different resources for personnel training.
The Prime Minister has also agreed to upgrade the Hanoi Industrial College for Textile, Garment and Fashion to the Hanoi Industrial Textile Garment University, creating a major personnel training channel for the sector, he said.
Source: VCCI
Related News
DIGITAL TRANSFORMATION IN LOGISTICS – A KEY TO UNLOCKING SUSTAINABLE E-COMMERCE AND ECONOMIC DEVELOPMENT
Accelerating digital transformation in logistics is critical in order to promote the sustainable development of e-commerce, a conference on applying technology held by the Ministry of Industry and Trade heard on Thursday, as well as accelerating overall economic growth.
SOILBUILD EXTENDS ITS HORIZONS INTO VIETNAM INDUSTRIAL REAL ESTATE
Soilbuild Group, an integrated real estate group, has broadened its investment in industrial real estate to Vietnam through its Soilbuild International division. The official launch of Soilbuild International (Vietnam) took place in Hanoi on May 9th, 2024, and was attended by esteemed guests, including domestic and international partners.
SEMINAR: BUSINESS SPOTLIGHT - THE HONG KONG-INSPIRED PRESENCE NESTLED IN THE HEART OF HANOI'S EAST
16h00 - 18h00, Wednesday (May 22nd, 2024)Almaz Convention Center - Hanoi (GG map: https://maps.app.goo.gl/YtWyGgkiTwWvFnfX6)
VIETNAM SECURES REMARKABLE ECONOMIC SUCCESSES SINCE NATIONAL REUNIFICATION
Since the national reunification on April 30, 1975, Vietnam has obtained admirable economic achievements and is now on its way to become the 20th largest economy in the world. Back to 1975, Vietnam, torn by two major wars, was a backward economy dependent on agriculture and foreign assistance. Foreign loans and aid accounted for over 63 percent of its budget.
350 EXHIBITORS TO TAKE PART IN HCM CITY PAPER, COATINGS, RUBBER, PLASTIC EXPOS
They will have a total display area of 10,000sq.m, 30 per cent more than last year, and the participation of over 350 local and international exhibitors who will showcase thousands of products and technologies.
INT’L INVESTORS EYE VIETNAM’S DATA CENTER MARKET – REPORT
Vietnam’s data center market is increasingly attractive to foreign investors, driven by the country’s expanding digital economy, rising data consumption, and supportive government policies, said a new report by JLL. While Vietnam’s data center sector has traditionally been dominated by local telecommunications companies, global players are now entering the market.