Vietnam is among the world’s largest textile and garment exporters (Photo: VNA)
Hanoi (VNA) – Vietnam has supplied more than four percent of the world’s total apparel production for con❀sumption this year.
Speaking at a ceremony to mark the 20th founding anniversary of the trade union of the textile and garment sector in Hanoi on September 14, Chairman of the union Nguyen Tung Van lauded the union’s contribution to the sector’s development.
He said annual average income of a worker in the sector hit more than 50 million VND (2,250 USD) and they are covered by social, health and unemployment insurance.
Director General of Vietnam National Textile and Garment Group Le Tien Truong said Vietnam is among the world’s five biggest garment and textile exporters. The sector contributes about 15 percent of the country’s total export value and creates more than 2.5 million jobs.
During the global economic crisis between 2008 and 2014, Vietnam was the only nation that maintained double digit growth in the sector, showing the sector’s competitiveness.
The sector has also attracted more foreign investment, up from 850 million USD in 1995 to 27.3 billion USD in 2015.
Vietnam is among the world’s largest textile and garment exporters, behind only China, India, Bangladesh and the European Union. Garment and textile exports in the first half of this year reached 12.6 billion USD, a year on year increase of 4.72 percent and accounting for 41 percent of the sector’s target for 2016.-VNA
The Agtex and the TUV SUD Vietnam company, on May 25, signed a Memorandum of Understanding (MoU) on helping Vietnamese garment exporters enter the global market.
Garment producers have faced a decline in orders and export values in the first half of 2016, causing a worry that the goal of exporting 31 billion USD worth of garment products cannot be achieved.
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.
Viettel was ranked third for overall mobile performance with a score of 82.56 just behind UEA’s e& (88.05) and Quatar’s Ooredoo (87.05) and ahead of Singapore’s Singtel (82.53). Vinaphone took second in 5G speed with a score of 78.11, trailing only behind e&.
PM Chinh proposed MUFG work closely with the Ministry of Finance to improve legal frameworks and support the establishment and operation of the international financial centre in Da Nang and Ho Chi Minh City.
The Prime Minister emphasised the significance of maintaining macroeconomic stability, controlling inflation, promoting growth, and improving the harmony between monetary and fiscal policies.
Petrovietnam will step up the development of new products and the expansion of international markets to reduce reliance on the domestic market. It also plans to optimise capital use, manage cash flow and costs, streamline operations, and enhance workforce quality to achieve its 2025 goals.
Vietnam has so far attracted 43,346 valid FDI projects with a total registered capital of 517.14 billion USD. The accumulated disbursed capital is estimated at nearly 331.46 billion USD, accounting for 64.6% of the total registered capital.
More than a product showcase, Vietfood & Beverage – Propack Vietnam 2025 is designed as a comprehensive ecosystem where businesses, experts, and consumers can share knowledge, explore technologies, and connect for collaboration.
Both sides expressed their hope that the outcomes of the discussion will continue to improve the efficiency of customs clearance activities at the customs clearance points and dedicated transport routes of the Huu Nghi – Youyi Guan international border gate pair.
The maximum retail price of E5 RON92 petrol has increased by 207 VND to 19,608 VND (0.75 USD) per litre while that of RON95-III rose by 234 VND to 20,074 VND per litre.
Vietnam is among the world’s largest textile and garment exporters (Photo: VNA)
