Business News

[01-12-2015] The garment and textile sector expects its exports will grow an average of 11.5 per cent per year between now and 2020, the Viet Nam Textile and Apparel Association (Vitas) said last week. Vitas reports said the sector is expected to generate export revenue of US$27.5 billion this year, and increase this value to $31 billion next year and $45 billion to $50 billion by 2020.

[03-11-2015] Production in the garment and textile sector would be higher in the last quarter of this year as several domestic exporters have orders till the end of 2015, and even the first quarter of 2016.

[22-10-2015] The Viet Nam Textile and Garment exhibition, which opened in HCM City yesterday, has attracted 125 local and foreign companies who are showcasing their products and services. Firms from Taiwan, Hong Kong, India, Korea, Malaysia, Thailand, and Turkey have brought machinery for sewing, knitting, spinning, cutting and printing fabrics, processing fibres, and embroidering, garment accessories, dyes and other products.

[21-10-2015] Local textile and garment enterprises regard investments in modern technologies as a way to help them address challenges and compete as foreign enterprises are flocking to Vietnam to benefit from the Trans-Pacific Partnership (TPP).

[01-09-2015] Garments and textile businesses are striving hard to be at the forefront to avail opportunities ushered in by the Trans-Pacific Partnership (TPP). As garments and textile sector is viewed as one of the industries which will benefit the most from TPP, many businesses are proactively putting in place measures to be able to avail these opportunities such as investing in modern production lines, upgrading facilities, improving design and product quality and finding access to the market.

[20-08-2015] The textile sector ranked second in attracting foreign direct investment (FDI) with more than US$1.12 billion in the first seven months of 2015, according to the Foreign Investment Agency, under the Ministry of Planning and Investment. The figure accounts for more than 20% of Viet Nam’s total foreign investment inflows in the reviewed period, the agency said.

[24-06-2015] Vietnam is now the fourth largest textile exporter in the world with 12.18 billion USD earned from these products in the first six months of this year, according to the Vietnam National Textile and Garment Group (Vinatex). The figure represented a 10.26 percent increase from the same period last year.

[22-06-2015] Garment and textile export turnover reached USD12.18 billion in the first six months of 2015, a 10.26% increase compared to the same period last year. The US is still the biggest importer of Vietnam’s garment and textile products, making up 42% of the country’s total at USD5.18 billion, up over 11.01%. It was followed by the EU at USD1.45 billion, up 8.2%.