Vietnam’s textile and apparel (T&A ) exports increased by 9.3 per cent to $5.634 billion in the first two months of the fiscal year, as per a report by the General Statistics Office (GSO).
As per this report, the garment and textile exports from Vietnam to the US continue to grow with domestic enterprises having secured export orders until the second quarter of the year. The market share of these enterprises is also expected rise in the coming times.
Hoang Manh Cam, Deputy Chief, Office of the Board of Directors, Vietnam Textile and Garment Group, points out; the new tariff measures by the United States tariff are not directed towards Vietnam, which is the least vulnerable country in the ASEAN region
However, their business is expected to slow down from the third quarter of the year as customers monitor the impact of US tax policies on the economy.
Experts advise Vietnamese textile and garment enterprises to enhance compliance with origin regulations under the Uyghur Forced Labor Prevention Act (UFLPA) of the United States.
