Dwindling textile and dyeing investment is hurting the sector’s development prospects. Many targets set in Vietnam’s textile and garment industry development strategy until 2015 with a vision towards 2020 will not come true since a sequence of textile and dyeing projects remained on the drawing board due to capital strains. As planned, from 2011-2015 the [...]
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 [...]
Textile and garment firms have a growing appetite to hook up with domestic and foreign partners amid uncertain economy. For example, recently Ho Chi Minh City-based Phuoc Long Investment Joint Stock Company (PLI) and Japan’s Sumikin Bussan Group began construction of VND23 billion ($1.1 million) Phuoc Long-Sumikin Bussan garment plant in Ho Chi Minh City’s [...]
Textile exporters with large output and skilled employees opt for becoming suppliers for domestic fashion retailers as the global economy remains sour. Textile producer Garmex Sai Gon, one of the country’s largest textile exporters, has inked an agreement worth VND100 billion ($5 million) to become a supplier for local fashion retailer Blue Exchange this year. [...]
Domestic textile and garment firms should target African countries as part of efforts to diversify their export markets, officials of the Ministry of Industry and Trade say. The Viet Nam Investment Review newspaper yesterday cited the officials as saying local firms were likely to ignore the African market despite it being a lucrative one for [...]
In July, southern Tra Vinh Provincial People’s Committee granted an investment licence to South Korea-based Grace Vina Company Limited to build a garment export plant in the province’s Cau Ngang district valued at $5 million. In July, southern Tra Vinh Provincial People’s Committee granted an investment licence to South Korea-based Grace Vina Company Limited to [...]
The Vietnam Chamber of Commerce and Industry (VCCI) branch in Ho Chi Minh City in coordination with the Cotton Textiles Export Promotion Council of India (TEXPROCIL) held a seminar on Vietnam-India garment exchange in Ho Chi Minh City on June 29. Two-way trade turnover between Vietnam and India has increased significantly in recent years. Import-export [...]
Scores of spinning and garment projects will boost local production. This is the Nam Dan textile garment cluster project developed by Hanosimex in central Nghe An province capitalised around VND1.3 trillion ($62.8 million). The project will be developed in two phases. Phase one involves three sub-projects valued at VND850 billion ($41 million). Sub-project one relates [...]
Rising costs in China are sending more buyers to South-East Asia “FASHION is a form of ugliness so intolerable that we have to alter it every six months.” Oscar Wilde’s quip now sounds hopelessly out of date. Fashions change far more often than twice a year. And the rag trade is as footloose as its [...]
More than 50 lawmakers voiced concern Wednesday about opening the US market to Vietnam’s textiles under a proposed Pacific Rim trade pact, saying the move would devastate the domestic industry. Fifty-two members of the House of Representatives — ranging from liberal Democrats to conservative Republicans — called for special rules on textiles as the United [...]
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