VN Ministry drafts legal amendments to boost textile and garment exports

Vietnam local garment exporters with the rise in wages for workers and logistics costs are under pressure particularly in the face of fierce competition from regional rivals like Bangladesh, Myanmar and Cambodia greatly benefiting from their governments’ preferential policies that included tax cuts and currency devaluation to boost exports. They have also enjoyed favourable treatment from the US and the European Union (EU), according to the Ministry of Industry and Trade.

The Ministry of Industry and Trade to help domestic garment producers cut costs and reduce administration burdens amid many difficulties facing the industry this year is drafting legal amendments.

The ministry has also urged domestic producers to join foreign supermarket chains in Vietnam and attend overseas product promotion and business-matching events. The state agencies are also asked to support domestic textiles and garment exporters in administrative procedures to help them overcome obstacles.

The ministry worries the export target may not be met as there will not be many big orders for the remaining months as the global demand for textiles and garments fell in the first eight months of 2017. Though the country’s exports rose by 9.9 percent in the first eight months of this year to USD 19.8 billion,

According to Chairman of the Vietnam Textile and Apparel Association Vu Duc Giang, the sector aims to export about 30 billion USD worth of textiles and garments in 2017. The US is expected to be the biggest buyer, accounting for 50 percent of exports, followed by the EU (20.5 percent), Japan (19.5 percent), and the Republic of Korea (7.5 percent).

Recent Posts

Swisstulle advances dyeing efficiency with JigMaster

Swisstulle adopted JigMaster for its dyeing and finishing operations, especially for high-quality technical textiles used in fashion and automotive industries.

3 days ago

Birla Cellulose and Circ partner to scale textile recycling

Birla Cellulose, a leader under the Aditya Birla Group, has announced a long-term partnership with Circ, a U.S.-based textile recycling…

3 days ago

CARBIOS unveils enzymatically recycled polyester t-shirt

CARBIOS has collaborated with leading brands Patagonia, PUMA, Salomon etc. to create a groundbreaking polyester garment made entirely from textile…

3 days ago

Yangi launches sustainable fiber-based food tray

Yangi, renowned for its renewable packaging solutions, has launched a fiber-based food tray as a sustainable alternative to plastic trays…

3 days ago

Tarpaulife Project develops alternative to PVC-coated fabrics

The European Tarpaulife Project is working on polyolefin-coated fabrics, such as polyethylene, that can be manufactured to compete with PVC-coated…

3 days ago

Better Cotton to standardise measurements for cotton production

Better Cotton has joined the global non-profit alliance, Cascale, in a three-year project aimed at standardising LCA methods across the…

3 days ago