Garment processing firms will likely vanish as compensation costs in the textile industry are estimated to reach US$500 a month in the next three to five years, Le Quoc An, chief advisor of the Vietnam Textile and Garment Association (Vitas), said at the opening ceremony of Vietnam International Fashion Fair (VIFF) 2011. At present, a [...]
Garment products continued to lead Vietnam’s export staples, bringing home 11.7 billion USD in the first ten months of 2011, an increase of 29.4 percent over the same period last year. According to insiders, together with stable and high-value orders, the trend of shifting garment supply markets from Eastern Europe to Asia countries, including Vietnam, [...]
Vietnam’s garment and textile exports earned US$11.7 billion in the first ten months of 2011, US$500 million higher than the projected target for the whole year. This was announced by the Ministry of Industry and Trade (MoIT) which predicted the sector’s exports would reach US$13.5 billion this year. – VOV
Vietnam’s textile industry will only be able to develop when textile enterprises can sell their products to garment companies, i.e that only when garment companies can export the products designed by themselves and using domestic fabric, will the industry take off. Almost all materials for garment industry are imports According to Vu Duc Giang, Chair [...]
Vietnam is now the eighth largest supplier of garment and textile products to the European Union (EU), according to the Ministry of Industry and Trade (MoIT). The MoIT’s Industry and Trade Information Centre said textile and garment exports to the EU saw high growth in the past months, making up 18 percent of the sector’s [...]
Garment firms are showing a growing appetite for stitching up expansion deals through acquisitions. The Vietnam National Textile Garment Group (Vinatex) said this year had seen some of its members enlarging their business scope by buying out under-performing businesses operating in the same field. To cite just one example, the Hung Yen Garment Corporation JSC [...]
The garment industry may face slow development despite experiencing export growth of 28 percent in the past nine months, according to the Vietnam Textile and Apparel Association (VITAS). The Ministry of Industry and Trade says the sector managed to hit export revenues of US$10.3 billion. Textile and garment exports, one of Vietnam’s biggest hard-currency earners, [...]
Vietnam ‘s garment exports fetched over $8.95 billion in the first eight months of this year, rising by 29.2 per cent over the same period last year, according to the Vietnam Textile and Garment Association (Vitas). Vitas attributed the good performance to the abundance of contracts won by local producers. With current export growth, the [...]
The country’s textile and garments sector has had its annual export forecast upped by US$500,000, based on performance this year. The Ministry of Industry and Trade changed the sector’s forecast for 2011 from the previously announced $13 billion to $13.5 billion. The new figure was announced after textile and garment exports rose to $7.56 billion [...]
Vietnam is likely to make an export turnover of US $13.5 billion from garment and textile in 2011, up 20.5% against 2010, according to the latest forecast by the Ministry of Industry and Trade. As the world’s 7th garment exporter, Việt Nam pocketed nearly US $6.2 billion from garment and textile exports in the first [...]
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