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Vinatex's domestic sales drop
28 Feb '06
1 min read
First two months of 2006 witnessed Vietnamese market shrink in terms of textile and garment consumption that declined despite exports soaring uninterruptedworth about US $867 million, up by 45.5 percent over same period last year, stated Industry Ministry sources revealed.
Domestic sales of Vinatex went down during this period due to winter's end and a period after Tet holiday. Additionally, its investment and development has not been implemented well, such as investment into manufacturing fabric for export and garment materials production etc.
Meanwhile, export activities are still on, especially to the US market and Northern America as exporting quota volume (in form of security guaranteeing deposit and auto visa) has been available since early days of this year, sources added.
According to notice of interministry of Trade and Industry, 60 percent of total export textile and garment quota of entire 2006 will be used for 'fewer' categories (which have perfomed up to 90 percent quota in 2005) with security guaranteeing deposit. The rest, 40 percent will be issued in auto-visa performance.
Domestic sales of Vinatex went down during this period due to winter's end and a period after Tet holiday. Additionally, its investment and development has not been implemented well, such as investment into manufacturing fabric for export and garment materials production etc.
Meanwhile, export activities are still on, especially to the US market and Northern America as exporting quota volume (in form of security guaranteeing deposit and auto visa) has been available since early days of this year, sources added.
According to notice of interministry of Trade and Industry, 60 percent of total export textile and garment quota of entire 2006 will be used for 'fewer' categories (which have perfomed up to 90 percent quota in 2005) with security guaranteeing deposit. The rest, 40 percent will be issued in auto-visa performance.
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