Vietnam maintains position of leading textile and garment exporter
Vietnam’s textile and garment exports rose to the second highest position in the world during 2020, according to a recent report by the World Trade Organisation (WTO). Enterprises in the industry have flexibly implemented many solutions to promote the production and exportation as well as improve competitiveness and position in the international arena.
However, being second in the world, Vietnam’s textile and garment industry security was not due to an increase in export turnover, but because of the reduction in exports of their competitors. Therefore, forecasts show difficulties in maintaining the current position this year if enterprises in the field do not expand investments, renew technology and make good use of new-generation free trade agreements.
1.Abundant sources of goods
Direct competitors of Vietnam’s textile industry such as India and Bangladesh are recovering strongly thanks to fast control over the COVID-19 pandemic while Vietnam is still struggling to cope with the pandemic and the disruption of its labour supply, creating negative impacts on the recovery process of enterprises.
At present, most textile and garment enterprises have orders to fulfil until the end of the first quarter of 2022 and they continue to renegotiate and sign contracts for the following months, while striving to boost production and exports to achieve the set objectives.
Deputy General Director of Garment 10 Corporation Bach Thang Long said that the company has many sources of goods and is speeding up exports, primarily to the United States accounting for about 40%, to the European Union (EU) accounting for 38%, and to Japan accounting for 10% of its total exports.
To increase the export volume, the company will mobilise employees to work overtime and apply inventive solutions and technologies to increase labour productivity in the remaining months of this year. In addition, the company is investing in three textile projects in Thai Binh, Thanh Hoa and Quang Binh with two of them being completed and in the process of recruiting workers to begin production and export in the near future.
Chairman of the Board of Directors of Hung Yen Garment Corporation (Hugaco) Nguyen Xuan Duong said that in the past three years, the company has focused on investing in equipment, modern technology and digital transformation, helping to increase productivity by about 20%. In addition to improving competitiveness, the company has spent funds to support employees to overcome difficulties during the raging pandemic.
The company has continued to attract more than 2,500 new employees since early this year, which is an important premise in promoting production and the export of garment products.
Statistics from the Vietnam Textile and Apparel Association (Vitas) show that Vietnam’s total textile and garment export turnover reached more than 32 billion USD in the past 10 months, up 10.8% over the same period last year. The US continues to be the leading import market of Vietnam, accounting for about 48%, followed by the EU, the Republic of Korea, and Japan. This is a great effort of enterprises amid negative effects of the pandemic.
Vitas President Vu Duc Giang affirmed that the biggest challenge for the textile sector is the non-synchronous and unified implementation of pandemic prevention solutions among localities, creating pressure on managers and employees.
In addition, many localities have yet to complete the vaccination of the first dose for workers while income of employees has decreased, especially in southern provinces such as Ho Chi Minh City, Dong Nai, and Binh Duong.
Enterprises are also facing a decreasing number of orders due to failure meeting the schedules and increasing prices of raw materials, making it difficult for enterprises to maintain and restore production.
Therefore, Vitas recommends enterprises to transfer orders from the south to the north in order to keep the schedule commitment with their partners and not disrupt the supply chain. They also need to proactively purchase raw materials to ensure supply for production, strengthen chain links, and invest in modern equipment to increase productivity and competitiveness within the market.
2. Taking advantage of free trade agreements
In addition to boosting production and export of goods to maintain the position of Vietnamese textiles and garments in the market, enterprises also need to make good use of opportunities from new-generation free trade agreements (FTAs).
Director of the Centre for WTO and Integration under the Vietnam Chamber of Commerce and Industry Nguyen Thi Thu Trang said that in order to enjoy tariff preferences from FTAs, Vietnamese textiles and garments must meet very strict requirements on rules of origin according to each individual agreement. For example, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) requires product origin “from yarn onwards”. This rule is lower in the EU-Vietnam Free Trade Agreement (EVFTA) and the Vietnam – Japan FTA, but also “from cloth onwards”.
In the context that textile raw materials are mainly imported from countries outside the FTAs, rules of origin become the biggest challenge for enterprises in taking advantage of opportunities from FTAs. Therefore, textile enterprises need to identify tariff opportunities under specific FTAs in each market and learn in detail the rules of origin related to their specific products.
In the long term, enterprises should consider improving their product design and creation capabilities, enhancing their position in the production chain, establishing a stable supply of raw materials, and building a brand name specifically for Vietnamese textile products. This is not only a sustainable way to increase localisation rate in products to enjoy preferential tariffs under FTAs, but also a way to increase profits for Vietnam in export value.
According to General Director of Vietnam National Textile and Garment Group (Vinatex) Cao Huu Hieu, in order to fully take advantage of FTAs, enterprises need to invest in a complete supply chain to satisfy the rules of origin. To achieve this goal, Vinatex has been focusing on developing in the yarn industry. Regarding the garment industry, Vinatex is concentrating on basic products with good quality to meet small and medium order sizes with short delivery times.
The group also aims to build a comprehensive supply chain in the future including yarn, textile, accessories, garment, as well as supporting services such as logistics, training, research and development.
Once Qi Jingchun hides, the great cause and effect will affect the entire Lizhu Cave, and will also affect the mountains and rivers of the entire Aquarius Continent.It was Mr. Xun s drunkenness. The words are also true. Ye Yunyun frowned and said, Have you ever said this Ye Yunyun really couldn The Effects Of True North Cbd Gummies 49 On Mental Health And Well t remember it.
But a certain person can occupy multiple positions as long as he is the strongest in multiple realms and is unprecedented enough.He smiled and narrowed his eyes, very happy. On the side, Cui Dongshan was eating with both 152 Debating The Effects Is Marijuana A Stimulant hands, tilting his head and nibbling, as if chewing a small piece of sugar cane.
Whether your Qi practitioner s level will decline depends on the luck of that half life. Then a pillar of sword energy appeared in the sky, covering it.Anyway, most of the records in human notes and unofficial histories are nothing more than opening Raw Garden Cannabis Infused Thc Gummies 76422 his mouth and spitting out a sword pill, and a white light.
Brother Xinghuo, that thing is so powerful, can Lan Yin really do it Zihong Zhenyi was still thinking about Lan Yin.It is not impossible to sell it to a fellow Taoist.
Jin Hong Zhenjun even felt that he could break out of the trap in the next step.Only by maximizing the strength of several people can the success rate of the next action be improved.
At this time, making friends is of course the best choice.His words seemed gentle, but they were even more difficult to deal with.
Shao Nan didn t pay attention at first, but now he realized that the three color chain seemed to be still locked on that area after the Dacheng Huo Linglong exploded itself.Huh What kind of secret technique does Lan Yin use It looks very interesting, and he has made a lot of articles inside the fire The 8047 Benefits And Effects Of Gummies Cbd Mg A Comprehensive Guide Vaopp sword.
Old Man Yang shook his head and said, If there is much to say, what needs to be said has been said a long time ago.Kong, who ran away for most of the time, deserves to be infiltrated by Cbd Gummies Reviews Top Picks 45956 For Pain Sleep And Anxiety In the Aquarius Island monks who went south, and still had the nerve to go to the Middle earth Confucian Temple to argue If it were me, the sage of the Confucian Temple, I would have thrown him over with a big mouth.
That s it. If you dare to think and do, you will be powerful. Chen Pingan clicked his tongue and said Du Hanling is worthy of being the king of your mountain New Cbd Gummies 030 For Pain A Comprehensive Guide To Effective Relief Jgpae in Tongyezhou.Therefore, one can imagine Wu Shuangjiang s impression of Daxuandu Temple. The old temple master was tied up with Wu Shuangjiang, and he felt guilty.
It s very ordinary, so even if Liu Qi and Cao Zu have lived in their own world for many years, Taoist Sun has not interrupted each other s pure practice.Ruan Xiu also said that Li Liu didn t know how to behave. Ruan Xiu was silent for a long time, Natures Leaf Cbd Gummies Reviews Benefits Scams 22015 And Expert Opinions then suddenly looked up at the sky with an indifferent expression, Long time no see, sword holder.
There is only one sentence circling in my head, how is this possible It seems that Master has encountered a monster.As soon as Chai Jingming took out the Yuzhu slip, Shao Nan knew it was broken.
Especially when he heard Qing Yao Shinichi s calm tone, he didn t dare to speak out.Shao Nan was even more surprised than Lan Yin.He just said it casually just now, but he didn t expect it to be true.
After you get started, you can go out to practice.Jiuli Sword Master obviously didn t want to talk about this topic anymore.The refining thing.Of course it is getting better and better.
Shao Nan sensed right then that Yan Jianbai might be bad for him.Shao Nan, go inside quickly Xiaocao er s childish voice came out as expected Experience The Bliss Of Bolt Cbd 78 Gummies A Game by Shao Nan.
Wuling Fenghuo may not be exposed yet, so it must be recovered as soon as possible.It is to make yourself aware of what you lack, and then find ways to remedy it.
Now that Balk s illusion power surpasses Alan, he always finds Alan in trouble.Be careful.Shao Nan recovered.Take control of the team immediately and be vigilant.
Shao Nan followed a small river until he came to the gazebo halfway up the mountain.Shao Nan has not yet grasped the knack of Yujian s rapid change of direction.
