Despite an overall export decline due to the shortage of orders, foreign direct invested (FDI) businesses still posted more than US$14 billion in trade surplus in the first four months.
By January 30, almost of factories and enterprises in export processing zones and industrial zones in Ho Chi Minh City had resumed operations after the Tet holiday ( the Lunar New Year) with the rate of workers reaching about 95 percent.
After the EU-Vietnam Free Trade Agreement (EVFTA) has become effective for three weeks, many enterprises have actively switched the source of imported raw materials to ensure the rules of origin to make the most of preferential tax rates.
The Ho Chi Minh City Textile and Garment - Embroidery Association said that the number of orders of garment enterprises in the city has continuously declined, merely equal to 40 percent compared to the same period last year.
The Cotton Council International’s (CCI) Cotton USA together with the Vietnam Textile and Apparel Association (VITAS) yesterday held the 2019 Cotton Day under theme “What’s new in cotton”.
As markets currently showed its positive sign, Vietnam’s exports of garment and textile are predicted to reach US$35 billion in the year, exceeding the plan by US$1 billion, said the Vietnam National Textile and Garment Group (Vinatex).
The garment and textile industry posted an export value of US$6.75 billion in the first quarter this year, reported Vietnam Textile and Apparel Association (Vitas).
The textile and garment sector enters the second quarter this year with promising signs from new import markets, said General Director of the Vietnam Textile and Garment Group (Vinatex) Le Tien Truong.
