Tuesday, July 16,2024 - 19:55 GMT+7  Việt Nam EngLish 

Vietnam textile and garment market update mid-June 2024 

 Sunday, June 23,2024

AsemconnectVietnam - According to Ta Hoang Linh, director of the European-American market department at the Ministry of Industry and Trade (MoIT), Vietnam’s textile and garment sector saw a 7.4% increase in export turnover, reaching $12.8 billion in the first five months of the year.

 Tran Nhu Tung, vice president of the Vietnam Textile and Apparel Association (VITAS), revealed that the textile and garment sector is aiming for an export turnover of $44 billion this year, with positive signs evident in new orders during the first five months.
Textile, garment industry needs to adapt to changing order trends
While Vietnam’s textile and garment industry is recovering, it is facing new challenges such as customers preferring small, rapid orders and labour shortages, experts have said.
Speaking at a ceremony held to globally launch the Arus overlock machine from China-based Jack Technology in Ho Chi Minh City on June 16, Nguyen Thi Tuyet Mai, Deputy General Secretary of the Vietnam Textile and Apparel Association, said though businesses have large orders, they are facing new challenges. For instance, customers are more likely to place low-priced small orders with quick turnaround times or demand a more diverse range of products to choose from.
Markets such as the EU and the US have strict requirements in terms of green production, she said.
Germany supports Việt Nam’s textile and garment industries in their green transformation
Five pilot projects on green technology for Vietnamese textile and garment exporters went on show at the ‘For a Sustainable Garment and Textile Industry in Việt Nam’ show held in Hà Nội on Monday. The event is part of the German government-supported ‘Green Tech Landing Pad’ initiative, jointly implemented by GIZ and the National Innovation Center (NIC), Ministry of Planning and Investment. The new technologies being piloted include IoTeamVN's energy management solution, Enedig Kft's cloud-based labour cost calculation solution timeSSD®, Hoàng Hà's waste heat recovery solution, ECOSOI's pineapple fabrics and fibres, and BlockTexx's polyester and cellulose recycling solution.
Textile and garment businesses face difficulties due to lack of domestic supply
Weaving and dyeing have remained textile and garment bottlenecks for many years. The two stages at the beginning and end of the chain, yarn and sewing, have a very large scale of development, while weaving and dyeing have remained industry bottlenecks for years.
Infrastructure for weaving, dyeing and fabric production is still limited, and there is no spatial planning for development and centralised wastewater treatment, said Nguyễn Thị Tuyết Mai, Deputy General Secretary of the Việt Nam Textile and Apparel Association (Vitas).
Some localities refuse textile and dyeing projects, saying that the textile and dyeing industry causes pollution, although investors say they will use modern processing technology that will not have a negative impact on the environment.
Domestic enterprises in the textile and garment industry still lack connection and fail to fully complete the supply chain within the country. As a result, the supply of raw materials is heavily reliant on imports at various stages of the production process.
Textile, garment industry needs to adapt to new order trend
While Vietnam’s textile and garment industry is recovering, it is facing new challenges such as customers preferring small, rapid orders and labour shortages, experts have said.
Nguyen Thi Tuyet Mai, deputy general secretary of the Vietnam Textile and Apparel Association (VITAS), said though businesses have large orders, they are facing new challenges.
For instance, customers are more likely to place low-priced small orders with quick turnaround times or demand a more diverse range of products to choose from, Mai told a ceremony held to globally launch the Arus overlock machine from China-based Jack Technology in Ho Chi Minh City last Sunday.
Markets such as the EU and the US have strict requirements in terms of green production. The industry is also facing a labour shortage, needing around 500,000 people for manual labour, managerial and designing roles, she added.
Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association, said the industry targets exports of around $44 billion in 2024. In the year to end-May, the exports hit over $15.8 billion, up 4.3% year-on-year, he said.
T.Huong
Source: Vitic

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