Thailand
Vietnam’s textile and garment exported to China for first time
The Hanoitimes – Vietnamese textile and garment products have exported to all major markets in the world, especially to China for the first time last year, said Le Tien Truong, General Director of the Vietnam National Textile Group (Vinatex).
Export value of the Southeast Asian country’s products to the United States last year accounted for 48 percent of the industry’s total revenue, followed by the European Union with 18 percent. The export proportions to Japan and South Korea were at 12 percent and 10 percent, respectively.
Especially, the products exported to China for the first time last year, accounting for 12 percent of Vietnam’s total textile and garment export value, Truong said.
Contrary to pessimistic forecasts about a reduction in the United States following the withdrawal of the country from the Trans-Pacific Partnership, Vietnam’s textile and garment firms signed many export contracts with the United States’ importers last year.
After many years depending on imports, Vietnam last year also gained US$3.5 billion from exports of fiber and yarn as well as $1.5 billion from textile accessories. As the fiber sector is encountering anti-dumping tariffs in some major export markets like Turkey, India, and Brazil, this outcome proves encouraging.
Exports of Vietnam’s textile and garment industry reached $31 billion in 2017, marking the first year the industry gaining a trade surplus of $15.5 billion.
With the achievement, Vietnam ranks third in the world for textile and garment export turnover, Truong said.
The industry targeted export turnover of rise by 10 percent to $34.5 billion this year despite of huge challenges and fierce competitions in the global market this year, particularly from China, Myanmar and Cambodia.
To realize the target, the sector will improve product quality and ensure on-schedule deliveries at reasonable prices to enhance its competitiveness.
The use of technology will be enhanced to increase automatic production, as well as IT-based management and workers’ skills.
To boost exports, Truong Van Cam, deputy president of the Vietnam Textile and Apparel Association (Vitas), said that the industry has been striving to apply modern technologies, especially industry 4.0 technologies in production to improve efficiency, productivity, diversify products and enhance product quality for higher added value.
Nguyen Xuan Duong, President of the Hung Yen Garment Corporation, said: “In 2018, there might be many orders and a great volume of products but prices will drop. It’s a common trend in all markets and is causing headaches for Vietnamese garment and textile enterprises because all types of input costs including workers’ salaries are on the rise. Increasing labor productivity through improving technology, equipment, and business management is considered the only solution.”
Vitas has recently also proposed that the Government review its policies of wages, insurances, administrative procedures and checks for import/export for amendments to remove the bottlenecks for garment and textile companies.
Pham Tat Thang, a senior researcher with the Ministry of Industry and Trade, said Vietnam’s textile and garment import markets are experiencing unforeseen fluctuations caused by trade protectionism.
“Major markets are closing and this affects Vietnam. With competitors like Pakistan and China thriving, Vietnam must improve its competitiveness. Domestic companies should invest more in technology to catch up with the tendency,” Thang noted.
Vu Duc Giang, Vitas Chairman, called for combining production, development of technology, branding, promotion, and mastering of advanced technologies, especially made-in-Vietnam technologies.
The textile and garment sector earned $4.3 billion from exports in the first two months this year, up 22.3 percent year on year.
Contrary to pessimistic forecasts about a reduction in the United States following the withdrawal of the country from the Trans-Pacific Partnership, Vietnam’s textile and garment firms signed many export contracts with the United States’ importers last year.
After many years depending on imports, Vietnam last year also gained US$3.5 billion from exports of fiber and yarn as well as $1.5 billion from textile accessories. As the fiber sector is encountering anti-dumping tariffs in some major export markets like Turkey, India, and Brazil, this outcome proves encouraging.
Exports of Vietnam’s textile and garment industry reached $31 billion in 2017, marking the first year the industry gaining a trade surplus of $15.5 billion.
With the achievement, Vietnam ranks third in the world for textile and garment export turnover, Truong said.
The industry targeted export turnover of rise by 10 percent to $34.5 billion this year despite of huge challenges and fierce competitions in the global market this year, particularly from China, Myanmar and Cambodia.
To realize the target, the sector will improve product quality and ensure on-schedule deliveries at reasonable prices to enhance its competitiveness.
The use of technology will be enhanced to increase automatic production, as well as IT-based management and workers’ skills.
To boost exports, Truong Van Cam, deputy president of the Vietnam Textile and Apparel Association (Vitas), said that the industry has been striving to apply modern technologies, especially industry 4.0 technologies in production to improve efficiency, productivity, diversify products and enhance product quality for higher added value.
Nguyen Xuan Duong, President of the Hung Yen Garment Corporation, said: “In 2018, there might be many orders and a great volume of products but prices will drop. It’s a common trend in all markets and is causing headaches for Vietnamese garment and textile enterprises because all types of input costs including workers’ salaries are on the rise. Increasing labor productivity through improving technology, equipment, and business management is considered the only solution.”
Vitas has recently also proposed that the Government review its policies of wages, insurances, administrative procedures and checks for import/export for amendments to remove the bottlenecks for garment and textile companies.
Pham Tat Thang, a senior researcher with the Ministry of Industry and Trade, said Vietnam’s textile and garment import markets are experiencing unforeseen fluctuations caused by trade protectionism.
“Major markets are closing and this affects Vietnam. With competitors like Pakistan and China thriving, Vietnam must improve its competitiveness. Domestic companies should invest more in technology to catch up with the tendency,” Thang noted.
Vu Duc Giang, Vitas Chairman, called for combining production, development of technology, branding, promotion, and mastering of advanced technologies, especially made-in-Vietnam technologies.
The textile and garment sector earned $4.3 billion from exports in the first two months this year, up 22.3 percent year on year.
Source: http://www.hanoitimes.vn/economy/2018/03/81E0C3B1/vietnam-s-textile-and-garment-exported-to-china-for-first-time/