Business News

[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and relevant ministries revise the master zoning plan for textile and garment industry development as it has become outdated.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.

[06-07-2016] Germany's latest textile and apparel technologies were introduced to local enterprises in Ha Noi on July 5. The event was held by the Vietnam Textile and Apparel Association (Vinatas) in collaboration with the Textile Machinery Association under the Germany Engineering Federation (VDMA).

[01-07-2016]Seen as one of the greatest beneficiaries from new generation free trade agreements (FTAs), the garment and textile industry is still, however, importing up to 80 per cent of input materials from other countries, mostly from non-TPP and non-EVFTA countries.