Compared to last year, Vietnam’s textile and garment industry has grown by more than 12 per cent. Production of clothes is up 8.8 per cent, fabric made from natural fibers up 3.9 per cent, synthetic fibers up 19.5 per cent and casual clothes up 8.7 per cent.
The industry’s export turnover has grown 9.8 per cent. Orders to Vietnamese enterprises have increased by eight per cent to ten per cent. Textile enterprises are seeking new markets and the industry is determined leaders to increase Vietnam’s market share abroad. The industry is appreciated for its quality and order fulfilment time. Medium and large textile enterprises in Vietnam are working to meet social responsibility and obtain the Green Label criteria from partners. Textile and garment exhibitions serve as an opportunity for textile enterprises to expand their market and help businesses get information about the latest production technologies and find ways to meet the needs of domestic and international buyers.
However, the sector also faces a number of challenges. There is a need to develop a competitive tool set including focusing on technological innovation, saving energy and improving the productivity of synthetic factors through solutions such as automation. Businesses need to be linked through common information, artificial intelligence and big data.