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.
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If we encounter a powerful beast, our lives will be at risk.Under the fierce tugging, the students door became smaller and smaller, but they were still short of the last bit.
She is my bottom line, the last remaining light in my dark life from now on.The little demons who can transform into human forms have abandoned shortcuts and returned to the tree, using both hands and feet to climb.
When the time comes, you will eat me up. I will see where you go to find me.For worship, right The female ghost laughed twice and covered half of her face with her long hair.
Together with the wildly growing grass blades on the ground, they were intertwined and wrapped layer by layer, regardless of the power of the ice wind pillar.Jiang Yuebai carefully checked it and laughed out loud after reading it.
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Ouch The dragon roared and suddenly accelerated towards the Broken Star Islands.If you want to survive, go back as soon as possible.
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I haven t seen the master be so interested in someone for a long time.The two of them stood above the entire Dragon Palace, overlooking the bottom.
It s interesting. The methods of these two people were indeed beyond Jiang Yuebai s expectations.The phoenix will be reborn on the plane tree every thousand years.
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Lu Nanzhi picked up the jade slip, Of these two jade slips, one is Wuwen, one piece is a shadow jade.The stone tablet will sense what she wants and then give her what she wants.
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Then don t go to the study. How about following me to the room Get out In the guest room
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Do you think I m
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In the middle of the line, two male cultivators in the Qi refining stage were angry, probably fighting for the line.
Its foundation is damaged and there is no hope of transforming into a god.Finally, help me deliver a greeting note to True Lord Canghuo.
He led this world for less than three hundred years before he left with several of his disciples.Besides the earth spirit world and the sky spirit world, there are countless realms, the larger ones are a hundred times larger than the earth spirit world, and the smaller ones are not even To the size of the Earth Spirit Realm, the world outside the Earth Spirit Realm should be collectively called the Upper Realm.
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Jiang Yuebai was not angry at all. He bent down in front of the three rabbits, his face cast into a shadow.The white moon on the river made her look like a fairy in a fairyland, and her aura was compelling.
I have brought a little bit of the materials that can be collected in the spirit world
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Your grandpa is fine Jin Qiyuan looked at Jin Shiyu with a smile on his face, full of relief.The other guards saw this and hurriedly protected the girl.
He ignored him and looked at the black figure holding the sword.He walked closer and stood still, then pointed at the magic cave and said with a smile Since Miss Wen is here, why don t you go in Hearing this, Wen Yue was not afraid of being caught.
Looking at the other three families, Nangong Dao was so excited that he couldn t help but laugh out loud, because judging from the four families now, everyone knew which ones the top three would be.There was another bang and a burst of green smoke rose.
Xue gave a soft drink, looked around and said It s dark here and the sight is not good.With the decision made in his heart, Luo Chen stopped thinking about it, withdrew his perception, and attacked the charming young man crazily with one move after another.
Just look at the value of the compensation. That s right Shopkeeper Xue, from now on, all the goods from my Chenji store will be handed over to the Longwei Escort Bureau for escort And I, Tao Ji, will hand User Reviews and Success Stories of Apple Cider Vinegar and Lemon Juice for Weight Loss
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You can change your appearance and leave as soon as you try.If they are asked to deploy Manpower, if something happens to the palace, will you take the responsibility Sir, please calm down It s my subordinate who didn t think well Master Qin suddenly broke out in cold sweat and hurriedly bowed and clasped his fists to admit his mistake.
Wow
Halfway through the rush, Luo Chen raised his foot, kicked up the tiles on the roof and flew towards the two of them.Immediately, Luo Zhennan no longer hesitated, stood up and headed towards the training room in Ziwu Mountain, preparing to retreat and break through the innate world.
of. But Luo Chen had already obtained the snake gallbladder, so he didn t want the snake skin or fangs.What Is there a problem Luo Chen sat slumped in the carriage, looking at Zheng Xiaoliu with a smile.
The dimensions under his feet flashed and disappeared in an instant.Second rate warriors cannot be dealt with by just a few third rate warriors.
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Luo Chen smacked his lips, two thousand taels of silver is not cheap But it s still acceptable.Looking around, Luo Chen became even more confused when he saw that everyone was looking at the man in black robe with blank expressions.
The arteries all over their bodies were slashed, and their bodies turned white.They never expected that this young man s archery skills were so superb
Haha
OK, OK You are indeed the young genius that I am The prince immediately slapped the handrail and laughed.
How dare you You dare to commit murder in the county government office in front of your own officials and flout the laws of Daqian.However, even a third rate early stage warrior can make him run away.
As long as you find the mechanism, it ll be easy. Quick Knock the place where you just knocked again, and be sure to find where the mechanism is Yin Shanyue said with a gloomy face, waving the shovel.
Zhou Song nodded Yeah According to the news from Anzi, the Sanhe Gang suffered a big loss at the hands of Luo Tianhe five years ago, and this time they plan to come back for revenge.If a beast was to be arranged to have the hope of defeating him, it would have to be a beast with peak second rate strength.
After an unknown period of time, Luo Chen gradually felt that the water in the bathtub was getting colder, and the turquoise color in the water also disappeared, and the water became clear again.This caravan in the desert is definitely not that simple.
Because just at that moment, Luo Chen detected something in the stone forest in front of him, a
Something he had never seen before After thinking for a moment, Luo Chen looked at the space in front of him that was slightly distorted by various artistic conceptions with complicated eyes.But there is a strict hierarchy in the escort team, and the escort must obey the leader.
You guys have suffered a thousand blows. so what if I took away all the tasks Didn t I break through before you guys Hahaha In the training room, Xiaopang waved his fists and kept laughing wildly.The middle aged shopkeeper who was busy settling accounts raised his head when he heard the sound.
An extremely ordinary white flower that no one would notice if they saw it.Just when the snow in front of Luo Chen s eyes fell away, Jing Jiu quickly disappeared from Luo Chen s sight.
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But later, Luo Chen almost fainted himself, so he simply stopped taking the detour and swooped directly from the roof when he encountered something blocking the road.Now with the help of experts like Luo Chen, Zheng Xiaoliu has a lot of confidence.
Walk towards the villa. Hey Boy After a disagreement, Liu Qingyang had never met someone as inexperienced as Luo Chen.Seeing this, Han Xiaobao hurriedly shouted Don t do it Don t do it I ll tell you a way to earn contribution points quickly.
Now, no matter whether this elixir can cure the princess s disease or not, you will definitely not be able to gain favor from the other party.His hands suddenly accelerated a bit, causing a roar of wind in the bellows.
There won t be only one big return pill, I would rather be idle than waste my time with something like this.With a flick of the spear, he threw it on the stabbing sword.
Anyone who is caught and stepped on will not feel good, not to mention in front of so many people.After a fast and furious journey, at noon on the tenth day, Luo Chen finally arrived at Zhongdu, the capital of Daqian.
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Luo Chen walked past the brothels without a red face and his heart skipped a beat, avoiding countless pairs of people grabbing him.Although these aristocratic families are not qualified to enter the Demonic Abyss, they all want to witness such a grand event with their own eyes.
We re here Zheng Xiaoliu pointed to a pawn shop opposite.These trees have green leaves, but they are all frozen in the snow and ice.
