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).
Researchers have created an innovative nanofibre patch that aims to simplify and improve the treatment of psoriasis, a common skin…
Clothing 2.0 has teamed up with The Marena Group LLC, a leader in medical-grade compression garments to transform the recovery…
Polartec has enhanced its Power Shield range, as it continues to replace petroleum-based materials with renewable alternatives while improving fabric…
Biomaterial company, Uncaged Innovations, has collaborated with ten independent fashion brands to launch Elevate, a new eco-friendly luxury leather alternative.
Rudolf introduced the Digital Pigment Printing Toolbox, a package of pre-treatment products to improve the quality and sustainability of pigment…
Aquafil Group, the innovator behind ECONYL regenerated nylon, has launched the ECONYL Bespoke Collection that mimic the aesthetics of natural…