VietNamNet Bridge - The textile & garment export turnover in the first 10 months of the year reached $25.15 billion, an increase of 17.1 percent compared with the same period last year, partly due to the trade war between the US and China, according to the Ministry of Industry and Trade (MOIT). The textile & garment export turnover is on the rise The US continues to be the biggest export market for Vietnam, bringing about 50 percent of total export turnover. MOIT confirmed that exports increased sharply partly thanks to the trade war as orders left China for Vietnam. Vietnam is expecting rapid growth rates in the export of textiles and garments, which will see the biggest benefits from the US-China trade war. The Chinese yuan is depreciating against the US dollar and against the Vietnam dong as well. This allows Vietnamese enterprises to import fabric and input materials from China at lower prices. Meanwhile, Vietnam can obtain bigger market share in the US as … [Read more...] about Can Vietnam’s textile & garment industry benefit from the trade war?
Textile and garment industry in cambodia
The event was held jointly by Vietnam’s Ministry of Defense, Ministry of Industry and Trade, the Vietnamese Embassy and trade office in Cambodia, the Defense Ministry and Commerce Ministry of Cambodia. Addressing the fair with the theme ‘Friendship, Cooperation and Development’, Deputy Minister of National Defense Sen. Lieut. Gen. Tran Don emphasized that this is an important political and economic event, which will greatly contribute to bolstering friendship and solidarity between the two countries. Sen. Lieut. Gen. Tran Don believes that the fair will offer a venue for Vietnamese businesses to enhance cooperative opportunities, seek clients and expand trade ties wih their Cambodian counterparts. Sam Sereyrath, Under-Secretary of State at the Cambodian ministry of commerce, also affirmed the links between both countries by adding that Vietnam is a key trade partner to Cambodia. As a result, the Vietnam Trade Fair 2018 will help not … [Read more...] about Vietnam Trade Fair 2018 opens in Cambodia
2019 will be a challenging year for Vietnam’s textile and garment industry as it needs to record major breakthroughs to take on new roles in the global value chain, including shifting from simple processing - Cut, Make and Trim (CMT) - to purchasing materials, free on board (FOB), original design manufacturer (ODM), and original brand manufacturer (OBM) modes, a seminar in Hanoi on September 20 heard. According the Vietnam News Agency, the “Prospects for Textile and Garment Exports in 2019” seminar was part of the Vietnam Hanoi Textile & Garment Industry Expo (HanoiTex) 2018. The State-run news agency quoted experts as telling the seminar that Industry 4.0 will have a huge impact on Vietnam’s textile and garment sector, forcing it to shake up and make heavy investments in both equipment and human resources. Thorny problems for enterprises are not only regarding the number and value of orders and the pace of growth but also technological innovation and … [Read more...] about Challenging 2019 ahead for textile and garment industry
2019 will be a challenging year for Vietnam’s textile and garment industry. (Photo: VNA) Hanoi (VNA) – 2019 will be a challenging year for Vietnam’s textile and garment industry as it needs to obtain major breakthroughs to take on new roles in the global value chain, including shifting from simple processing - Cut, Make and Trim (CMT) - to purchasing materials, free on board (FOB), original design manufacturer (ODM) and original brand manufacturer (OBM) modes. The information was heard at the seminar “Prospects for textile and garment export in 2019” held in Hanoi on September 20 as part of the Vietnam Hanoi Textile & Garment Industry Expo (HanoiTex) 2018. Experts said that Industry 4.0 will have huge impact on Vietnam’s sector, forcing it to shake up and make heavy investments in both equipment and human resources. Now, thorny problems for the garment and textile enterprises are not only number and value of orders and growth pace, but also … [Read more...] about Vietnam’s textile and garment industry faces tough seas in 2019
The Hanoitimes - Vietnam somehow will take advantage of the escalation of the US-China trade conflict, although the world`s economy in general may suffer from it. Vietnam's electric and garment industries may benefit from the escalating US - China trade war, Hanoi-based Bao Viet Securities Corp (BVSC) has analyzed. Illustrative photo. FDI rerouting to Vietnam In 2017, eight out of China's top ten export categories to the US were in the groups of mobile phones, electronic devices and telecommunication equipment. Total export value of these eight groups were about US$256 billion, accounting for 50% of China's total export turnover the US. From BVSC's point of view, the Trump administration's expansion of trade war to all these Chinese imports could be counterproductive and the US companies and consumers would suffer the most. In the near future (about five years), hardly can any countries in the region completely replace China in processing electronic … [Read more...] about Vietnam’s electronics and garment may benefit from trade war: Brokerage