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Related Keywords: 4.0 industrial revolution, designs must be diverse, fashion industry, Hung Yen Garment Corporation, member companies of assocaiton, repeated operations, replace humans, Robots and machines, some links of production chain, technological improvements to save power, Vietnamese textile and garment industry, Vinatas, yet to see big impact

Vietnamese textile and garment industry is yet to see big impact of the 4.0 revolution on his enterprise and other member companies of the assocaiton, said Nguyen Xuan Duong, chair of Hung Yen Garment Corporation, who is also deputy chair of the Vietnam Textile & Apparel Association (Vinatas).

Robots and machines can only replace humans in some links of the production chain, which need repeated operations. In the fashion industry, designs must be diverse because customers don’t want to wear the same products and orders from partners set different requirements.

Related Keywords: Brexit, build supply chains, change in exchange rate, definitely have impacts on Vietnam garment and textile exporters, devaluation of the pound and the euro, diversify products, impacts on the sector production and sale, influence prices, re-negotiated material prices, reconsider Vietname EU FTA, traditional and new market, Vinatas

Brexit to definitely have impacts on Vietnam garment and textile exporters due to the devaluation of the pound and the euro, which influence prices as Vietnam’s garment exports to the EU account for approximately 20 percent of the total volume with the UK contributing around 4 percent, Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (Vinatas), said.

Related Keywords: Chinese imports to Vietnam will increase, discourage enterprises to spend money, framework of FTAs, negative impact on Vietnam economy, TTP, Vinatas, yuan weakening

The yuan weakening likely to have negative impacts on Vietnam’s economy in the long term, according to Dang Phuong Dung, deputy chair of the Vietnam Textile and Apparel Association (Vinatas), as Chinese imports to Vietnam will increase in the time to come as a result of the weaker yuan. This will discourage enterprises to spend money to increase their localization ratios. With low locally made content, Vietnamese products will not be able to satisfy the requirements on product origin to enjoy preferential tariffs within the framework of FTAs and the Trans Pacific Partnership (TPP).

Related Keywords: export turnover, foreign invested enterprises expanding, key export item of Vietnam, textile and garment, TPP, Vietnamese firms dwindling, Vinatas

Textiles and garments are the key export item of Vietnam, with $24 billion worth of export turnover in 2014 and an expected $27-27.5 billion in 2015. However, there is a big problem that while foreign invested enterprises are expanding, Vietnamese firms have dwindled.