Business News

Việt Nam’s textile and garment sector is experiencing a significant upswing, driven by favourable global dynamics and robust export performance. Recent statements from the US President Donald Trump, suggesting a shift in American industrial focus away from traditional manufacturing, have been interpreted by investors as an opportunity for Việt Nam to expand its role in global apparel supply chains.

On April 25, Syre signed an MoU with the south-central province of Binh Dinh, which lays the groundwork for establishing Syre’s first giga-scale recycling plant in the province. This follows Syre’s $100 million Series A funding round in 2024, during which Vietnam was shortlisted for its strategic position within the textile supply chain, a vibrant industry history, and access to know-how.

Việt Nam’s textile and garment industry is pressing forward with steady growth and enhanced positioning in the global supply chain, thanks to timely strategies in response to ongoing international challenges. As of April 15, Việt Nam’s total textile and garment export turnover reached US$1.8 billion, representing an 8.7 per cent increase compared to the same period in 2024.

Just one year since production began, the innovative line of flame-retardant products at the Vietnam National Textile and Garment Group (Vinatex) is opening the door to fresh export opportunities. This breakthrough comes as a result of a memorandum of understanding between Vinatex and the UK-based Coats Group, a global leader in high-performance threads and materials. The project has already received high marks under Coats’ rigorous supplier evaluation system.

According to Chairman of the Việt Nam Textile and Apparel Association (VITAS) Vũ Đức Giang, many Vietnamese enterprises are already weaving eco-friendly materials like organic cotton, recycled polyester, and Tencel. This aligns with global trend as major global brands operating in Việt Nam have committed to achieving net-zero carbon emissions by 2050 under the Fashion Industry Charter for Climate Action.

In 2025, Vietnam's textile and garment industry targets US$47-48 billion in export revenue, a US$3-4 billion increase from last year. To achieve this, businesses must expand markets and secure a proactive raw material supply while meeting strict standards on transparency, sustainability and labor compliance from key importers like the U.S. and the EU.

The domestic textiles and garment industry is witnessing a surge in export orders in 2025, driven by a positive economic outlook and competitive advantages, positioning the country as a key player in the global market.

The combination of sustainability and culture will open up more opportunities for Vietnamese textile enterprises to strengthen their position in the global market and capture the promising Nordic fashion market.