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Related Keywords: assist coordination and connection, costs of logistics account, domestic textile enterprises, ministry of industry and trade, Ministry of Transport, nearly one-third of the costs of each textile product exported, reduce costs and improve competitiveness, Vietnamese textile industry, work together with logistics service providers

The Vietnamese textile industry to reduce costs and improve competitiveness, the domestic textile enterprises should work together with logistics service providers. The costs of logistics currently account for nearly one-third of the costs of each textile product exported, so the Vietnamese garment sector could save more than US$1 billion per year by reducing this cost, according to experts.

Nguyen Tuong, Vice Chairman of the Vietnam Logistics Association, said that the textile industry needs to import raw materials from abroad and export products to foreign markets.

Related Keywords: amend environment regulation, establishment of textile and garment industrial zones, export value exceeded, free trade agreements, related authorities, review and adjust development planning for the industry, stable growth, suggested Government, under current planning, Việtnam Textile and Garment Association, Vietnamese textile industry, Vitas

The Vietnamese textile industry’s export value under the current planning was targeted to reach US$20 billion by 2020, but the figure exceeded $27 billion in 2015 and is expected to hit $31 billion this year. From 2010 to 2015, the industry had stable growth of export value of 15 per cent per year.
In the first half of this year, its garment and textile exports have reached $12.6 billion, representing a 4.72 percent year-on-year increase and accounting for 41 percent of the sector’s target for 2016.

Related Keywords: access to seaport networks, competitiveness in global textile market, established supply chain, materials domestically sourced, ranks fourth globally in terms of size, rapid expansion stands chance to become worlds leading production hub, relatively large domestic market, Vietnam National Textile and Garment Group, Vietnamese textile industry

The Vietnamese textile industry currently ranks fourth globally in terms of size, behind textile giants China, India, and Bangladesh. With rapid expansion of textile industry, it stands a chance to become the world’s leading textile producer in the near future, said Le Tien Truong, general director of the Vietnam National Textile and Garment Group.

Related Keywords: import a large quantity of cotton, India great opportunity to provide raw material, VCCI, Vietnam India textile cooperation conference, Vietnam to meet rising demand, Vietnamese textile industry

The Vietnam - India textile cooperation conference was held on Monday in Ha Noi, on the occasion Doan Duy Khuong, vice chairman of the Viet Nam Chamber of Commerce and Industry (VCCI), said that India had great opportunities to provide raw materials for Vietnamese textile industry.

Vietnam needs more than 500,000 tonnes of cotton per year to meet rising demand. The domestic garment and textile sector had to import a large quantity of cotton as the country's cotton output met only 1 per cent of local producers' demand, said the chairman.

Related Keywords: Customs Union, Customs Union Russia, free trade pact, garment sector, TPP, Vietnam-EU Free Trade Agreement, Vietnamese textile industry, Vinatex

The Vietnam National Textile and Garment Group’s (Vinatex) deputy general director, Le Tien Truong during the conference in Ho Chi Minh city held to discuss the group’s public offering state that there is a growth witnessed in the garment and textile sector, its clothing exports have grown more than 15 percent annually since 2001 while the garments make up over two percent of global market share.
 

Related Keywords: global trade, stakes, stitching, Trans-Pacific Partnership, Vietnamese textile industry, Vinatex, weaving and dyeing, yarn production

Vietnam's top textiles manufacturer, Vinatex or Vietnam National Textile and Garment Group to fund restructuring and boost profit plans to sell stakes, in a listing it hopes would accede with the agreement of the Trans-Pacific Partnership (TPP) - a 12-nation pact that would cover a third of global trade.
 
Vinatex will conduct its IPO on the Ho Chi Minh Stock Exchange on July 22, offering 24.4 percent of the company, or 122 million stakes, at a starting price of 11,000 dong (52 U.S. cents) each.
 

Related Keywords: Vietnamese textile industry, Vinatex

The Vietnam National Textile and Garment Group (Vinatex) has entered into an agreement with the Bank for Investment and Development of Vietnam (BIDV), under the agreement signed BIDV will lend US$600 million to Vinatex in the period from 2014 to 2016. The loan package is signed to improve the textile firm production efficiency, invest in more projects, and upgrade their manufacturing technology.