Want to be in the loop?
subscribe to
our notification
Business News
VIETNAM’S TEXTILE SECTOR BRINGS IN $37 BILLION IN FDI
Over $37 billion in foreign direct investment (FDI) has flowed into Vietnam’s textile and garment sector, according to the Vietnam Textile and Apparel Association (VITAS).
VITAS said that Vietnam was home to around 3,500 foreign-invested textile and garment projects worth $37 billion, boosting the sector’s production capacity and making a significant contribution to export turnover.
The foreign-invested enterprises play an important role in the textile and garment sector, contributing 65 per cent to the sector’s total export turnover. Major investors mainly come from South Korea, Taiwan, Hong Kong, and China. Among them, South Korea is the largest foreign investor in Vietnam’s textile and garment sector.
The expansion of foreign direct investment (FDI) has boosted both the scale and capacity of the local textile and garment sector. Vietnam is still the third-largest textile and garment exporter worldwide, trailing behind China and Bangladesh. In 2022, the country's textile and garment export turnover surpassed $44 billion, a huge leap from $2 billion in 2000.
In 2023, Vietnam’s textile industry posted an export turnover of $40.3 billion, down 10 per cent from the previous year due to shrinking demand from major markets like the United States and EU.
In the first four months of 2024, textile and garment orders have shown signs of improvement, with an export turnover of $10.3 billion, up 6.3 per cent on-year. The US is the top export market for Vietnam’s textile and garment products, followed by the EU, South Korea, China, and Japan.
The industry currently imports nearly all of its cotton and spends tens of billions of dollars on raw fabric each year. Over the past four months, cotton imports reached over $1 billion, an increase of 20.2 per cent on-year.
The import value of fabric was up 6.5 per cent to $4.34 billion. The figure for textile yarn was $833 million, an increase of 22.5 per cent. Meanwhile, $2.24 was spent to import raw materials for textiles, garments, and footwear, a rise of 18.9 per cent against last year’s period.
The leading localities in FDI attraction in the textile and garment sector are Dong Nai, Binh Duong, Tay Ninh, Long An, Nam Dinh, Hai Duong, and Binh Phuoc.
Source: VIR
Related News

REACHING ECONOMIC TARGETS HINGES ON BALANCING GDP GROWTH AND INFLATION CONTROL
To maintain economic stability, the Deputy Prime Minister underscored the need for an uninterrupted supply of fuel, electricity, and essential goods.

GROSS VALUE OF VIETNAM'S MAIN E-COMMERCE PLATFORMS HIT $12.6 BILLION IN 2024
The top five e-commerce platforms in Vietnam, Shopee, Lazada, TikTok Shop, Tiki, and Sendo, posted a total gross merchandise value (GMV) of VND318.9 trillion (about $12.6 billion) in 2024, a 37.36 per cent rise from 2023, according to Metric.

YOUR EXEPERIENCES THIS FEBRUARY IN THE HEART OF SAIGON
With many attractive offers from Fine Dining & Wine Pairing in the most elegant atmosphere at Reflections Restaurant, delight in a lavish Seafood Feast at Buffet NINETEEN, or enjoy the charming elegance of High Tea & our new Tapas Selections at Café de l'Opera. Each experience is thoughtfully curated to bring you cherished moments in the Heart of Saigon.

VIETNAM REPORTS US$3-BILLION TRADE SURPLUS IN JAN
Vietnam recorded a trade surplus of US$3.03 billion last month, showed data from the General Statistics Office (GSO). The country’s exports totaled US$33.09 billion, up by 4.3% year-on-year, while imports edged down by 2.6% compared to the same period last year to US$30.06 billion.

VIỆT NAM’S COFFEE EXPORTS REACH NEARLY $800 MILLION IN JANUARY
Statistics from the Việt Nam Coffee-Cocoa Association show that in January 2025, Việt Nam exported 154,635 tonnes of coffee, generating revenues of US$799.5 million.

GLOBAL SOURCING FAIR VIETNAM 2025: YOUR GATEWAY TO 100% EXPORT-READY VIETNAMESE PRODUCTS FOR HONG KONG BUYERS
The Global Sourcing Fair Vietnam 2025 (GSFVN 2025) is set to redefine the sourcing landscape for Hong Kong buyers. Taking place from April 24 to 26, 2025, at the Saigon Exhibition & Convention Center (SECC) in Ho Chi Minh City, this premier event will showcase over 30,000 export-ready products from more than 500 verified suppliers across Vietnam and Asia.