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Vietnam Textile
Updated news related to Vietnam Textile
Vietnam's textile industry is facing great pressure.
The US decision to impose a reciprocal tax of up to 46% on Vietnam will have a strong impact on the domestic textile and garment industry. This is a very high tax rate, seriously affecting the competitiveness, ability to attract investment and development resources of domestic textile and garment enterprises.
Market
Vietnam textile industry loses at home
Although Vietnam has been very successful in exporting, doing business at home is very difficult.
Textile and garment exports could reach 34 billion USD in 2018
In 2017, the textile and garment industry had many breakthroughs, bringing the total export turnover of the Vietnamese textile and garment industry in the year to an estimated 31 billion USD, an increase of 10.23% over the same period in 2016.
Minimum wage in Vietnam's textile industry is the lowest in Asia
According to the report “Asia-Pacific Textile and Footwear Study” recently published by the International Labor Organization (ILO), a large proportion of workers in the textile and footwear industry in seven Asian textile-exporting countries are receiving wages lower than the minimum wage.
A 100 USD shirt, Vietnam receives less than 2 USD
If the textile industry does not change, no matter how much President Obama supports the TPP, it will not be a miracle for this industry considered to benefit the most.
Vietnam's textile industry in the TPP era: What to do to avoid "climbing the greasy pole" to pick the fruits?
Domestic enterprises "powerless"
Vietnam's textile industry has ambitions to penetrate deeper into the European market.
Many Vietnamese textile and garment enterprises have recently participated in a fair in France to seek opportunities to penetrate deeper into the European market.
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