Update news Textile industry
Export target of US$40 billion of garment and textile industry this year is on the verge of failing to achieve due to several difficulties, such as a shortage of orders and high dependence on imported materials.
Many cities/provinces reject textile and garment projects because of fear of the negative impact on the environment.
Lopsided development of its various segments and dependence on imports have weakened the textile industry’s competitiveness and creativeness, experts said.
According to economic experts, the garment and textile industry of Vietnam will advance further in global market thanks to several existing advantages such as skilled laborers with sophisticated technique.
VietNamNet Bridge - Many merger and acquisition (M&A) deals have concluded recently, after which Vietnamese companies joined Chinese textile & garment production chains.