VIET NAM FOOTWEAR EXPORTS TO EU GROWS
Thanks to the preferential tariffs under the EU-Vietnam Free Trade Agreement, footwear exports to the bloc’s 27 member countries increased by 19.2 per cent year-on-year in the first quarter of 2021.
TEXTILE AND GARMENT COMPANIES STRUGGLE IN FOURTH COVID-19 WAVE
According to the Ministry of Industry and Trade, textile and garment orders increased significantly after the Covid-19 pandemic was brought under control in the United States, the European Union and Japan, some of Vietnam’s main importers of textile and garment products.
TAX TWEAK PUTS STRAIN ON APPAREL MAKERS
The government issued Decree No.18/2021/ND-CP on March 11, amending a previous 2016 decree to implement the Law on Export and Import Taxes. Now, products traded on spot are not eligible for import duty exemptions.
GARMENT AND TEXTILE SECTOR SETS EXPORT TARGET OF 55 BLN USD
The Vietnam Textile & Apparel Association sets an export target of 55 billion USD for the sector for 2025.
TEXTILE COMPANIES HOPE FOR BETTER DAYS AHEAD
VGG attributed the decline to the negative impact of the COVID-19 pandemic around the world, especially in Japan, the US and the EU, the main export market of the corporation. Importers in these countries reduced their orders, leading to a decrease in VGG’s sales.
GARMENT EXPORT REVENUE UP TO $2.6B IN JAN
The ministry said in January 2021, the textile production index and the apparel production index increased by 16.6 per cent and 9.9 per cent, respectively, over the same period in 2020. The production of fabrics was estimated at 92.4 million sq.m, up 20.4 per cent.
FTAS FOSTER APPAREL AND FOOTWEAR EXPORTS
Vietnam's textile and garment industry have made great progress and managed to take advantage of free trade agreements (FTAs) such as Vietnam - Korea FTA, Vietnam-Eurasian Economic Union FTA (Vietnam - EAEU FTA), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and European-Vietnam FTA (EVFTA), according to a report released by the Ministry of Industry and Trade.
VIETNAM’S MANUFACTURING OUTPUT RETURNS TO GROWTH IN FINAL MONTH OF 2020
The Vietnamese manufacturing sector ended the year 2020 in growth territory as business conditions improved following disruptions caused by a succession of storms in November, with output, new orders and employment all increasing in December, according to a report released by IHS Markit on January 4, 2021.
