Vietnam’s textile sector, comprising around 7,000 companies and over 3 million workers, dedicates 80% of its production capacity to exports and 20% to domestic consumption. The industry’s growth is supported by a well-developed logistics network, a skilled workforce, and a stable political environment.
Binh Duong province, a key industrial hub in southern Vietnam, shipped 22.5 billion USD worth of products abroad in January-August, a year-on-year increase of 11.3%.
General Statistics Office figures reveal that Vietnam earned 5.2 billion USD from exporting textile and garment products in the opening two months of 2024, a 15-percent increase compared to the same period of 2023. The figures put textiles and garments in fourth position in terms of revenue-generating sectors.
The southern province of Dong Nai posted a trade surplus of 4.8 billion USD with its export earnings and import turnover reaching more than 17.8 billion USD and over 13 billion USD in the first 10 months of 2023, respectively.
Under a strategy to develop garments, textiles and footwear by 2030 with a vision to 2035, Vietnam aims to gain 38-39 billion USD in export turnover from leather and footwear products by 2030.
Textiles and fabric items from the Association of Southeast Asian Nations (ASEAN) are being displayed at an exhibition held in Seoul from November 9-13, as part of the ASEAN Week 2022.
Although the demand for Vietnamese textiles is forecast to rise steadily in the short term, firms are concerned that tight material supply will impede their export plans.
It is forecast that Vietnam will have great opportunities to export more types of products to Sweden when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect.
Authorities of the southern province of Dong Nai and a delegation from the Jeollanam province in the Republic of Korea (RoK) on September 5 signed a cooperation agreement on energy industry.
Vietnam and the Republic of Korea (RoK) have secured successful outcomes in the textiles sector based on their establishment of a cooperative system that supplements one another with technology and human resources.
Vietnamese enterprises are displaying their products at the 25th South African International Trade Exhibition (SAITEX), which began in Johannesburg of South Africa on June 24.
The Vietnam-Singapore Industrial Park (VSIP) in the central province of Quang Ngai has attracted 17 projects worth a total 383 million USD since it commenced construction in 2013.
A conference, entitled “Textiles: India – Vietnam Cooperation, Partners in Progress”, was held by the Consulate General of India in Ho Chi Minh City on April 11, aiming to boost trade relations between the two countries in textiles.
The southern province of Dong Nai is forecast to enjoy a trade surplus of 2 billion USD in 2017, according to Chairman of the provincial People’s Committee Dinh Quoc Thai.
The Ministry of Industry and Trade has submitted a proposal to Prime Minister Nguyen Xuan Phuc suggesting solutions to issues raised by the Vietnam Textile and Apparel Association (VITAS).
Many enterprises in southern Dong Nai Province have been in need of labourers, mostly manual workers for textiles, wood processing and mechanics to complete their extra contracts in the past 2 months.
