Rewind 2021 and prospects for 2022 Rewind 2021 and prospects for 2022
Home / Knowledge / News / Apparel/Garments / Vietnamese textile, garment exports may exceed $30 bn
Vietnamese textile, garment exports may exceed $30 bn
Oct '17
Vietnamese textile, garment exports may exceed $30 bn
Vietnam’s textile and garment exports turnover in 2017 may exceed the target of $30 billion, according to the Vietnam Textile & Apparel Association (VITAS), which says $2 billion worth investment has poured into this sector this year to date. The turnover was $17 billion in the first seven months of this year. Some new barriers to business, however, remain.

The country has not witnessed many large-scale new foreign direct investment (FDI) projects in this sector this year as was seen three years ago. However, foreign investors are seen expanding their existing projects, according to a report in an English-language online newspaper in Vietnam.

The ministry of industry and trade has cautioned that export markets have increased their trade remedies against Vietnamese products. India, for example, imposed a tax of 35-45 per cent on elastomeric filament yarn.

While South Korean enterprise Long Thai Tu Yarn will invest $50 million to expand its workshop in Long Khanh industrial zone (IZ) in Dong Nai province, Trillions Enterprise from Brunei, which has a dyeing and weaving factory in Tan Duc IZ in Long An province, wants five more hectares to scale up production.

Taiwanese Far Eastern has registered additional investment capital of $485.8 million, raising its total investment in Bau Bang IZ to $760 million after two years of operation.

Among the Vietnamese firms that have stepped up investment, Bao Minh Textile has invested $75 million in a cloth-making unit in Nam Dinh that is likely to become operational by March 2018.

Though companies no longer expect nil tax, Vietnam remains a big garment exporter globally, according to VITAS chairman Vu Duc Giang.

VITAS feels besides the Trans-Pacific Partnership (TPP), Vietnam’s textile and garment industry enjoys benefits from other free trade agreements, including the ones with the European Union (EU), South Korea and Japan. Vietnam holds only 3 per cent of the EU market share in this sector. (DS)

Fibre2Fashion News Desk – India

Must ReadView All

Pic: Shutterstock

Textiles | On 29th Jan 2022

EU refers China to WTO following trade restrictions on Lithuania

The EU recently filed a case at the World Trade Organisation against...

Pic: Shutterstock

Apparel/Garments | On 29th Jan 2022

Philippines misses Jan 1 RCEP deadline; to conduct public hearing

The Philippines missed the January 1 effectivity of the Regional...

Pic: Shutterstock

Textiles | On 29th Jan 2022

ILO, BGMEA join hands to continue safety momentum in RMG sector

The International Labour Organisation (ILO) and the Bangladesh...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Fabric selection & recommendation based on client's brief

Textile Industry, Head honchos

Textile Industry
Head honchos

Trainers faced immense challenges as most were not tech-savvy

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Ritu Oberoi,

Ritu Oberoi

Established in 2018, Forsarees is a socially driven business enterprise,...

C Maennich,

C Maennich

Trützschler, one of the world's leading textile machinery manufacturers,...

Shyam Gupta,

Shyam Gupta

Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Seth Casden, Hologenix

Seth Casden

Hologenix is a material sciences company dedicated to developing products...

Robert Brookins, Alexium International

Robert Brookins
Alexium International

Alexium International is a specialty chemical development company...

Shalini Sharma & Shweta Pundir Sharma, Six Yard Story

Shalini Sharma & Shweta Pundir Sharma
Six Yard Story

Six Yard Story is a premium artisanal brand with a focus to bring handloom ...

Gauri Verma, Label - The Jodi Life

Gauri Verma
Label - The Jodi Life

THE JODI LIFE is an Indian fashion label that creates ready-to-wear for...

Gavin Miguel, Label Gavin Miguel

Gavin Miguel
Label Gavin Miguel

Acclaimed fashion designer <b>Gavin Migue</b>l is known for his couture...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments


Lenzing Aktiengesellschaft
Rosset ;& Cia Limited
Aquarelle Clothing Limited
IKEA of Sweden AB
Gokaldas Exports Limited
Hela Clothing Pvt Ltd
Page Industries Limited (Bangalore)
Tchibo GmbH
IDH – The Sustainable Trade Initiative
Etam Group Strategy Hong Kong Limited
Gloria Jeans
Tommy Hilfiger
The Top Form Brassiere Manufacturing Company Limited
Chico’ FAS
Esprit Europe Services GmbH
Calvin Klein
Gatsby Africa
Target Corporation (MN)
Reiter India Private Limited
Vardhman Textile Ltd
International Textile Manufacturers Federation
KAS Direct Sourcing
Lacoste (Wanchai)
LC Waikiki
Brandix Lanka Limited
Phong Phu international JSC (PPJ)
H;&M Hennes ;& Mauritz (Far East) Ltd
Lululemon Athletica Inc
OVS Hong Kong Sourcing Ltd.
Lisa S.P.A.
C;&A Sourcing International Ltd
Restoque S.A.
MAS Active / MAS Kreeda / MAS Bodyline
Deckers Outdoor (Guangzhou) Consultant Co., LTD.
Chori Company Limited
Gap International Sourcing Limited
Bluestem Global Sourcing Limited
Hirdaramani International Export Private Limited
Midas Clothing Limited
Maceton Limited
Under Armour Global Sourcing Ltd
Seasalt Limited
John Varvatos
Rayonese Textile Inc., Division de Culp Inc.
PVH Corporation
Amazon China
Tory Burch Hong Kong Ltd
NITI Aayog
Alison Hayes Romania
Huntsman (Singapore) Pte Ltd
Landmark Group
Eastman Chemical Company
Vianney Textil Hogar S.A. De C.V.
Helly Hansen Far East Ltd
Aramark Uniform ;& Career Apparel, LLC
J ;& P Coats
Sateri (Jiujiang) Fiber Co.,Ltd
Guess Europe Sagl,
G-Star Raw C.V.
Alix Partners
T.T. Limited
Truetzschler India Private Limited
Boardriders Asia Sourcing Limited
Recron Polyester from Reliance Industries Limited
Sainsbury's Argos Asia Limited
Sportswear Company Spa
Groz-Beckert East Asia LLP
Green Fibre
Arvind Limited
Cat Tuong Real Estate Group Joint Stock Company
Varner AS Retail
Desigual - ABASIC, S.A.
The LYCRA Company Singapore  Pte. Ltd
Grasim Industries Limited

January 2022

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

Advanced Search