Vietnam’s textile and clothing companies are currently being upgraded. Last year, the Ministry of Industry and Trade (MOIT) presented the government with a general restructuring plan for the period covering 2016 to 2020.
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A number of yarn, weaving and dyeing projects in Vietnam have restarted after a period of postponement due to the US withdrawal from the Trans-Pacific Partnership (TPP). However, the textile & garment industry still faces difficulties.
Strong growth is predicted for the Vietnamese textile and clothing industry, according to a new report from the global business information company Textiles Intelligence ? Prospects for the textile and clothing industry in Vietnam.
Vietnam in top 10 markets for Italian machinery
An essential production hub for the garments manufacturing sector thanks to its low labour costs, Vietnam is currently a major industry supplier for both the European and US markets
The International Cotton Advisory Committee Secretariat has forecast that the season-average Cotlook A Index in 2016/17 will range between 66 and 83 cts/lb, with a midpoint of 74 cts/lb, which would be 4 cts/lb higher than last season.
Textile chemicals are the most widely used specialty chemicals in Vietnam and areused during various stages of textile processing for imparting specific properties and qualities to the manufactured fabric.
Export of garments from Thailand is expected to move south with more manufacturers migrating to neighbouring countries to tap cheaper costs and better tariff benefits.