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Related Keywords: depends on imported material, especially from China, global supply chain, industry production, join processing stages of cutting and sewing, lowest stages of the supply chain, not major production stages, production of materials and design, supply chain remains weak point, Vietnam local garment industry, Vinatex, Vitas

Vietnam's local garment industry that depends on imported material from abroad, especially from China which accounts for 50 percent of the material for the industry’s production. Also most of the machines, chemicals and textile dyes that Vietnam's garment industry uses need to be imported. That means the supply chain remains the weak point in Vietnam's garment sector for which it has taken a small step to join the processing stages of cutting and sewing in the global supply chain, said Vu Duc Giang, chairman of the Viet Nam Textile and Apparel Association (Vitas).

Related Keywords: acquires stake of Maximark, acquisition includes nine outlets, boost presence in retail sector, OceanMart chain, own retail brand VinMart, Vinatex, Vincom Retail chain, Vingroup

Vingroup, which has its own retail brand VinMart, has acquired a 100 percent stake to become the new owner of Maximark, the Hanoi-based firm. The acquisition includes nine Maximark outlets and other properties which previously belonged to Ho Chi Minh City-based An Phong Investment JSC.

All of these nine outlets will become members of either the VinMart or Vincom Retail chains operated by Vingroup after the acquisition is completed.

Related Keywords: 2015, Entertainment programmes and fashion shows are scheduled, famous textile businesses, fari opened in Ho Chin Minh City, line-up of designers and small and medium garment providers, part of national trade promotion programme, Vietnam International Fashion Fair, Vinatex, Vitas

Vietnam International Fashion Fair (VIFF) 2015, jointly held by the Vietnam Textile and Apparel Association (VITAS) and Vietnam National Textile and Garment Group (Vinatex), opened in Ho Chi Minh City on September 18.

The fair, is part of the activities in the national trade promotion programme and is held annually to introduce domestic and foreign customers production capacity and export of textile enterprises throughout the territory of Vietanem, reflecting the fashion industry’s latest achievements as well as brand new collections are being introduced at the fair.

Related Keywords: avoid fluctuations in the exchange rate., Dinh Vu Polyester plant. domestically and internationally credible, polyester fibre consumption agreement, produced by PVTEX, purchase of polyester fiber, PVN, reduce the import of raw materials, signed cooperation agreement, supply of raw materials of stable quality, Vinatex

Petrovietnam oil and gas group (PVN) and Vietnam National Textile and Garment Group (Vinatex) signed a strategic cooperation agreement regarding the purchase of polyester fiber produced by Dinh Vu PetroVietnam Petrochemical and Textile Fibre JSC (PVTEX). The agreement is the outcome after more than one year of commercial operation of Dinh Vu Polyester plant.

Related Keywords: bilateral trade, fourth largest textile exporter, Free trade agreemens, key to impressive growth, meet export target, tariff cut, Trans-Pacific Partnership, Vietnam, Vietnama National Textile and Garment Group, Vinatex

Vietnam becomes the world’s fourth largest textile exporter having earned an estimated US$12.18 billion in the first half of this year from these products – a year on year (YOY) increase of 10.26 percent. The industry is well on its way to meet its export target of US$27-27.5 billion set for 2015, according to the Vietnam National Textile and Garment Group (Vinatex),

Related Keywords: Le Tien Truong, textile and garment in Vietnam, top textile exporter in the world, Vietnam National Textile and Garment Group, Vietnam textile export, Vinatex

Vietnam has emerged as the fourth largest textile exporter in the world by earning US$12.18 billion in the first six months of 2015, said the Vietnam National Textile and Garment Group (Vinatex). The earning is 10.3 per cent higher than last year. US, South Korea and the European Union were the biggest buyers of Vietnamese products, posting growth of 11.0 per cent, 8.3 per cent and 8.2 per cent respectively, against the same period last year.

Related Keywords: construction of textile and garment factory complex, effluent treatment plant, fibre factory, garment factory, Ha Tinh and Da Nang, including Phu Yen, knitwear production line, supply materials to domestic garment manufacturing companies, textile and dyeing factory, to treat wastewater, Vinatex

The Vietnam National Textile and Garment Group (Vinatex) has started construction of a textile and garment factory complex in the central province of Quang Nam. The project includes a fibre factory with a capacity to produce 4,600 tons of products annually, a textile and dyeing factory with annual capacity of 5,000 tons and a garment factory with 20 knitwear production lines with capacity to manufacture 20 to 25 million pieces per year.

Related Keywords: Dinh Vu Polyester plant, domestic demand, filament fibres, German technology, imports of foreign made fibre, Petrovietnam Group, polyester chips, polyester fibres, triple yarn output, Vinatex

Dinh Vu Polyester Plant that is owned 81 percent by the state oil and gas company Petrovietnam Group and balance 19 percent of the plant by Vietnam’s top garment maker Vinatex, to triple yarn output to 75,000 tonnes by year-end to better meet domestic demand.

With capacity to produce 175,000 tonnes of fibre per year, the plant is able to supply around 40 percent of raw material needed for the Vietnamese textile industry, saving approximately $ 400 million per year on imports of foreign made fibre, as well as providing jobs to nearly 700 people.

Related Keywords: biggest garment supplier, Itochu Corp, Japan, multi-sectoral conglomerate, second-biggest cash earner, state-run Vietnam National Textile And Garment Group, trade pacts, Trans-Pacific Partnership, Vinatex

Itochu Corp, the third largest multi-sectoral conglomerate in Japan acquires 5 percent stake in the state-run Vietnam National Textile And Garment Group (Vinatex) with a purchase price of more than 1 billion yen (US$9.25 million).

Itochu Corporation became the first non-Japanese financial institution to invest in a big state-owned enterprise (SOE) of Vietnam. Itochu acquired a certain percentage of Vinatex's shares through public trading channel, not as a strategic investor, confirmed Tuoi Tre, Tran Quang Nghi, Chairman of Vinatex.

Related Keywords: ASEANS, domestic supplies, export revenue, exporter, garment export, labour productivity, largest apparel manufacturer, material supply, TPP, Vietnamese worker, Vinatex

Vietnam National Textile and Garment Group (Vinatex) largest apparel manufacturer and exporter of Vietnam have hit 18 billion US dollars export revenue in the first nine month of this year, a 19 percent increase year-on-year.

According to a report posted on Vinatex's website on Wednesday, during the period, the group alone pocketed some 2.36 billion U.S. dollars from exporting garment, up 16 percent year-on-year.