Business News

[23-09-2016] Vietnam's textile-garment exports still increased in the first first eight months of this year but at a slower pace than in the same period last year. Vietnam shipped abroad US$18.7 billion worth of textile-garment products in the January-August period, up 4.4% year-on-year, according to the Vietnam Cotton and Spinning Association (VCOSA).

[05-09-2016] “During the first quarter of 2016, the ministry became aware that a number of factories had been inactive for months, and in some cases had closed down, but had not provided official notice to the ministry and thus had not been recorded as such in the database.

[29-08-2016] The figure is much lower than previous years, the ministry said. Three major markets of Vietnam include the US, Japan and South Korea. The US topped US$6.52 billion, up 3.48 percent compared to the same period last year and accounting for 49.6 percent of the country’s total textile export turnover.

[18-08-2016] The Vietnam Textile and Apparel Association (VITAS) has proposed the Government and relevant ministries revise the master zoning plan for textile and garment industry development as it has become outdated.

[04-08-2016] A number of enterprises in the labor-intensive textile-garment industry have expressed concern over the National Wage Council’s plan to increase the region-based minimum wages by 7.3% on average next year, saying the cost burden would be heavier for them.

[01-08-2016] The central Thua Thien-Hue Province plans to spend more than VND6.6 trillion (US$295 million) on transforming itself into a textile and garment hub in the country's central region. This is the main objective of the province's textile and garment planning for the 2016-2020 period.

[26-07-2016] This year’s export target of US$30 billion seems to be a daunting task for the textile and garment sector given higher costs, fewer orders and mounting competition.Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (VITAS), told a press conference in Hanoi last week that the sector posted export revenue of only US$12.76 billion in the first six months, growing 4.72% year-on-year but representing just 41% of the full-year target.

[18-07-2016] The Ministry of Industry and Trade (MoIT) has proposed the development of large textile and garment industrial zones (IZs) to attract investment in dyeing, and fabric and yarn production. The 500ha to 1,000ha zones would attract local and foreign investment for high-end products.