Pay Attention To Vietnam'S Increasing Textile Export

Vietnam's "people's Daily" reported on June 11 that Vietnam's textile and clothing exports totaled 18.7 billion US dollars in the first five months of this year, up 23.5% year-on-year. This reflects the enterprise's efforts in investment and increasing the export of goods.

It is expected that the unpredictable market and the rising prices of raw materials and accessories will be a great challenge for enterprises.

Therefore, enterprises need to carry out a number of measures flexibly and synchronously to promote growth and achieve the established goals.

Duan Wenyong, director of the organization department and chairman of the trade union of Vietnam's natexco, said that thanks to a number of strong solutions, the company achieved impressive business performance in the first half of this year, with revenue of about 1.023 trillion dong, 101% of the annual plan and 123% of the same period last year. At present, the company's orders are full up to the end of September or even the end of the year.

This is the company's great efforts in the context of the adverse impact of the new outbreak.

According to the deputy general manager of Yuesheng head office, in the first quarter of this year, the company overcame various difficulties and challenges and achieved good business performance, with revenue of 25% and profit of 35% of the annual plan.

Vietnam Textile Group (VINATEX) chairman Li Jinchang said that in the first quarter of this year, the group achieved gratifying results, operating efficiency increased nearly 75% year-on-year, and total revenue increased nearly 50% year-on-year. However, many bad signals appeared in the first quarter of this year, which brought many difficulties to VINATEX and even Vietnam's textile industry, such as geopolitical risks including the conflict between Russia and Ukraine, relations between Russia and the west, soaring raw material prices and transportation costs, etc. Therefore, enterprises must formulate flexible solutions, timely respond to and adapt to the market situation, so as to actively increase the production and export of goods.

In order to further strengthen the export of goods, enterprises need to continue to invest in expanding production sites, prepare the sources of auxiliary materials supply, actively meet the requirements of relevant rules of origin, and grasp the opportunities brought by the new generation of free trade agreements.

(source: Ministry of commerce website)