Struggling to survive
As Vietnam’s apparel producers are grappling with excess inventory and declining orders, local manufacturers are having to move on in the face of financial constraints and weakening global demand. During an interview with The Saigon Times, Truong Van Cam, vice chairman and general secretary of the
Riding on rocky roads
Any hope for improving business conditions by midyear has faded due to dismal demand in main markets and macroeconomic instability. New orders plunge In its first-quarter consolidated financial statement, Century Synthetic Fiber Corporation (HOSE: STK) posted net revenue of VND288 billion,
Exploring new markets
Headwinds from slumping demand may pose further challenges for Vietnam’s export sector. To overcome difficulties, exporters need to gain a stronger foothold. What does a plunge in new orders indicate? New orders have dived among Vietnam’s key export industries, such as apparel, footwear and wood,
Challenges surround garment enterprises
Textile and garment firms have been through a roller coaster ride, with profits going up in the first half of 2022 and nosediving during the second half. Financial problems plague apparel firms The textile and garment industry has steadily recovered from the impacts of the Covid-19 pandemic. It
VITAS works out growth scenarios for textile industry in 2023
HCMC – The Vietnam Textile and Apparel Association (VITAS) has forecast two scenarios for Vietnam’s textile and apparel next year. VITAS said that exports of key industries, including textiles, would plunge in early 2023 due to runaway inflation and expectations of global recession, resulting in a
Vietnam eyes US$47 billion in apparel exports in 2023
HCMC – Vietnam’s textile and garment export revenue is expected to hit US$47 billion in 2023, according to the Vietnam Textile and Apparel Association (VITAS). Speaking at a press briefing on November 18, VITAS Chairman Vu Duc Giang forecast the country would see strong growth in apparel exports