test


Member ID:
Password: 
Stay logged in for 30 days
Forget Your Password?
close

login CCFGroup App

Industry News | Time:Jan 11 2017 8:33AM
Vietnamese apparel firms receive full orders until March
 
Text size
Hanoi (VNA) – Garment and textile enterprises have received enough orders to keep them busy through the first quarter of this year, said Le Tien Truong, General Director of the Vietnam National Textile and Garment Group (VINATEX).
At a press conference on January 9, Truong said that in 2017, the group targets a rise of 11 percent in export turnover, 14 percent in production value, and 12 percent in revenue.

He predicted that this year, Vietnam’s garment and textile sector will face numerous challenges, including a lack of support in taxation policies as several important trade deals such as the EU-Vietnam free trade agreement and the Trans-Pacific Partnership, will not become effective in 2017.

Competition will become fiercer as other countries will continue attracting orders thanks to their advantages in tax and exchange rate, he said, adding that the instability in the EU economy will also affect the industry.

Last year was gloomy for the world apparel sector. Major importers, including the US, the EU and Japan experienced low or decreased demand for garment and textile products, he noted.

Vietnam’s apparel also saw under-expectation result with 28.3 billion USD in export, up 5.7 percent year on year. VINATEX earned over 2.5 billion USD, a rise of 5 percent over 2015, with a pre-tax profit of over 41 trillion VND on a 5 percent year on year increase. Its employees’ average income rose 8 percent over the previous year to reach 6.7 million VND per month.

Truong also said that the results showed the great efforts of the sector, as Vietnam recorded higher growth than major competitors such as China, India, Bangladesh and Indonesia.-VNA

Source: Internet
Related Articles
Vietnam: a strong market for Indian cotton
Textile chemical market likely to cross $2.5 billion by 2021
H1 textile exports down 1.65 percent to $6.156 billion in Pakistan
Tangaliya weavers to get government support in purchasing looms
Pakistan imposes duty on Indian fine cotton yarn
Vietnam's raw cotton imports in December, 2016
Kati chief hails Prime Minister's textile package in Pakistan
About 10.5 million bales of cotton reach ginneries in Pakistan
CCI projects promising cotton outlook for 2017
Dyeing units in Tirupur get funds
 
Research
Changes in China's MEG inventory structure in 2016
Analysis on improved polyester end-user market demand in ...
Analysis on the surging nylon market in the fourth quarter ...
What will HC re-PSF market head for on dropping profits
China PET bottle chip export feature and export destination ...
Companies investing in Xinjiang really perform well?
 
 

浙公网安备 33010902000742号