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Vietnam textile and garment exports to decline by 14%

  

Vietnam’s textile and garment exports are expected to decline by 14 per cent this year to reach $33.5-34 billion. As per the Ministry of Industry and Trade, this year was particularly difficult for Vietnamese textile and garment industry as the market was complex and difficult to forecast. Demand for textile products slowed due to COVID-19 as consumers around the world focused on essential appliances and disease prevention. And as Le Tien Truong, General Director, Viet Nam National Textile and Garment Group (Vinatex) says, the pandemic broke supply chains and resulted in declining demand for goods the world over.

However, the decrease in Viet Nam's textile and apparel industry was not as large as other countries since textile enterprises rapidly transformed from traditional to adaptable products such as switching from high-class suits, shirts to labour protection, knitwear and traditional shirts to maintain production and business activities. Also, Vinatex still maintained jobs for the whole system and no employees were laid off. The group’s average income expected to be realized in 2020 is $342 per person per month, adds Troung.

Nguyen Duc Tri, Chairman, Hoa Tho Textile-Garment JSC, advises the government to focus on development of industrial zones with wastewater treatment systems, ensuring environmental hygiene in the central region so textile and dyeing enterprises and supporting industries could focus on development and attracting workers from neighbouring areas such as HCM City, Bien Hoa and Dong Nai.

The Ministry of Industry and Trade has said textile enterprises need to introduce new solutions to change production and business methods to suit the new situation. At the same time, enterprises should exploit and expand the domestic market and link with customers to form production chains.

 
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