Garment sector forecast to further growth in year-end
The garment and textile sector is expected to surge in the fourth quarter of this year thanks to Vietnamese enterprises receiving stable export orders until the year-end.
The garment and textile sector is expected to surge in the fourth quarter of this year thanks to Vietnamese enterprises receiving stable export orders until the year-end, said Nguyen Tien Vy, head of the Planning Department under the Ministry of Industry and Trade (MoIT), on November 2.
A number of garment businesses have also taken orders until the end of the first quarter of 2016.
According to the MoIT, garment and textile export turnover reached 2.2 billion USD in October, up 13.6 percent on the year and bringing the figure in the first 10 months of this year to nearly 19.2 billion USD, up 10.4 percent.
🧔 In the period from January to October, Vietnam produced 259 million metres of fabric made from natural fibers and 2.62 billion units of garments, up 1.9 and 4.4 percent year-on-year, respectively.
Meanwhile, nearly 547 million metres of clothes made from synthetic and artificial fibers were manufactured, a decrease of 5.6 percent.
𒀰 In order to boost exports of garment and textile products, the MoIT asked relevant agencies to take measures to remove obstacles for businesses and implement policies to improve the business environment and competitiveness.-VNA
Labour inspections are set to be carried out in 150 garment enterprises in 12 provinces and cities nationwide, heard a conference in Ho Chi Minh City on August 3.
Textile and garment exports to the US is likely to reach 11 billion USD this year, said Dang Phuong Dung, Vice Chairwoman of the Vietnam Garment and Apparel Association.
Several domestic garment and textile companies would face more challenges from large rivals following integration, said Tran Quang Nghi, Chairman of the National Garment and Textile Group (Vinatex).
Vietnam will expand the range of its textile and garment material suppliers to stimulate the development of the sector, a senior official of the Ministry of Industry and Trade (MoIT) said.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
Illustration photo. (Photo: VNA)
