The competitiveness of Vietnam’s yarn spinning industry has improved
According to Vietnam’s “Economic Times” report on August 28: Vu Duc Giang, chairman of the Vietnam Textile Association, said that there are currently about 800 spinning companies in Vietnam. Since most companies use advanced spinning equipment, high-quality American lint is supplied. The international competitiveness of spinning enterprises, especially cotton yarn spinning enterprises, is increasing day by day. Cotton yarn products have entered the markets of many countries, and orders from a factory in Dong Nai Province have been scheduled until the end of the year. The newly invested spinning factories in the past two years have a high degree of automation, which greatly saves labor costs. In the first half of this year, Vietnam has exported US$1.8 billion of cotton yarn, and it is expected to export cotton yarn to more than US$3 billion throughout the year, mainly to China, Japan, South Korea, Taiwan, Middle East countries, South Africa, etc. The competitiveness of Vietnam’s yarn spinning industry is increasing
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