Export prospects of Vietnam’s textile and garment industry
VuDucGiang, Chairman of the Vietnam Textile and Apparel Association (VITAS), commented on the export prospects of Vietnam’s textile and garment industry this year as follows:
(1) Vietnamese garment and textile factories are competing to recruit more workers, especially skilled workers, to complete high-quality product orders.
(2) The motivations for international brands to choose Vietnam include the Vietnamese government’s active promotion of sustainable development, green economy, digital management and circular economy to support the country’s stable development. And encourage domestic textile factories to increase creative products, etc.
(3) Many textile factories expect that the market will recover in the second or third quarter and orders will increase again, so they need to recruit stable and skilled labor. After the long Spring Festival holiday in January, many textile factories quickly resumed production to fulfill orders.
(4) Free trade agreements are attracting foreign investment and orders from other countries to Vietnam, helping Vietnamese companies realize market and product diversification strategies. In the past, Vietnamese companies only supplied a small number of products to Islamic countries. This proportion has increased significantly simply because some orders have been transferred from Bangladesh and Myanmar to Vietnam.
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