Home / Knowledge / News / Apparel/Garments / Vietnamese 2016 apparel export target may be unreachable
Vietnamese 2016 apparel export target may be unreachable
02
Aug '16
The export target of $30 billion set by the Vietnamese textile and apparel industry may be an overwhelming task considering that exports reached only $12.76 billion in the first six months or 41 per cent of the 2016 target.

Speaking at a press conference in Hanoi, Vu Duc Giang, chairman of VITAS said this was mainly due to lack of orders for domestic companies and that exports were driven mainly by companies with FDI investment.

Giang added that the biggest challenge was finding new orders and it was completely possible that SME's would be forced to discontinue doing business, with exports halting at less than $29 billion.

He further added that, while Cambodia and Bangladesh enjoy incentives offered by the US and Europe, wages in Sri Lanka, Bangladesh and Myanmar were lower than in Vietnam.

According to the chairman, in order to benefit from lower costs, importers were shifting their orders to other countries.

VITAS vice chairman Nguyen Xuan Duong also pointed out that, while their currency Dong was stable against the US dollar, those of other countries had depreciated between 8 and 20 per cent.

He also said that interest rates which stand between 8 and 10 per cent, high when compared with those of its competitors, led to Vietnam's prices being higher by 20-30 per cent as against those of its rivals. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 23rd Aug 2017

US govt initiates Section 301 investigation of China

The US government has initiated an investigation of China under...

Apparel/Garments | On 23rd Aug 2017

BRC welcomes clarity on goods flow during Brexit

British Retail Consortium (BRC) has welcomed the greater clarity that ...

Textiles | On 23rd Aug 2017

Pakistan minister seeks ideas to boost textile sector

The Pakistani Government will come out with short- and long-term...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
67.7%
No
16.1%
Skip
16.1%

Total Votes: 31

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
45.2%
No
35.5%
Skip
19.4%

Total Votes: 31

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.9%
No
6.5%
Skip
9.7%

Total Votes: 31

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
61.3%
No
9.7%
Skip
29.0%

Total Votes: 31


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search