HOMEPAGE
Hot Properties
ADB: Vietnam’s 2009 GDP growth to be highest in South East Asia
MGM Grand Ho Tram: Vietnam’s First ‘Las Vegas Style’ Integrated Resort
Nha Trang’s Twin Towers project licenced
Foreign investors still have good opportunities in Vietnam
Sierra Wireless gets a foot in Vietnam’s ICT market
INDOCHINA INTERNATIONAL CONSULTING CO., LTD
HO Add: 62L/36 Nguyên Hồng, Ward 11, Bình Thạnh District, HCMC - Vietnam
Biz Office Add: #48 Road No 11, Quarter 6, Hiệp Binh Chánh Ward, Thủ Đức, HCMC - Vietnam
®Source: http://viipip.com should be clearly quoted for any use of information extracted from our website.
Publication permit No: 60/GP-TTĐT , April 05, 2010.
Vietnams textile exports slow in first 6 months as buyers shift
Date: 7/7/2016 10:47:03 AM
Vietnam’s exports of textiles and garment products increased 5.1 percent to US$10.7 billion in the first six months, the slowest pace since 2010, which industry insiders attribute to the rise of new suppliers in the global market.
The downshift means the industry, which accounted for nearly 14 percent of the country’s exports last year, is likely to miss the annual shipment target of $31 billion this year, according to news website Dau Tu.
Buyers are not cutting back purchases altogether but they are increasingly turning toward other suppliers such as Bangladesh, Cambodia, Laos and Myanmar for lower import tariffs and thus lower prices, local media reported, citing industry insiders.
Vu Duc Giang, chairman of Vietnam Textile and Apparel Association, told news website Bnews that Vietnam will have to wait at least two years before its free trade agreement with the EU and the Pacific-Rim trade pact TPP take effect. The former has been signed off but the latter is still waiting to be approved by each of the 12 member states.
At the moment, Vietnam’s textile shipment is subject to an average tariff of 17 percent in the US and nearly 10 percent in the EU.
The industry’s exports grew 8.2 percent to $22.63 billion last year, according to figures released by the General Statistics Office of Vietnam.
However, the industry’s own data showed it actually shipped $27.2 billion worth of textiles and garments products in 2015, up more than 10 percent from the previous year.
(Source:thanhniennews.com)
Other news- Vietnam will become a destination for Chinese investors in the future (11/6/2023 1:03:19 PM)
- Thua Thien - Hue: Calling for investment (11/6/2023 1:00:42 PM)
- Hai Phong Planning to establish a series of industrial parks and economic zones (11/6/2023 12:58:13 PM)
- The Fastest Growing Economies In 2024 (11/6/2023 12:56:34 PM)
- Hai Phong reached the target of attracting FDI capital (10/17/2023 5:18:21 PM)
- Long An has 1,215 FDI projects with capital of 10,519 million USD (10/17/2023 8:40:41 AM)
- What do FDI enterprises recommend to the Vietnamese Government? (10/17/2023 8:38:33 AM)
- Vietnams 3 commitments to foreign businesses and investors (10/17/2023 8:35:45 AM)
- Up to now (2023), how much money have Asian tigers invested in Vietnam? (10/17/2023 8:31:59 AM)
- Another semiconductor manufacturer expands in Vietnam (10/17/2023 8:30:44 AM)
- Billions of dollars poured into Vietnamese semiconductor projects (10/17/2023 8:26:09 AM)
- Revealing the reason why Central region continuously invested by giants Foxconn, Goertek... (10/17/2023 8:24:49 AM)
- VIFTA: Vietnam-Israel Boulevard opened (8/28/2023 9:29:44 AM)
- Wistron announced to pour another 24.5 million USD into Vietnam to build a new factory. (8/28/2023 9:28:33 AM)
- Formulate policies to develop the logistics industry (8/28/2023 8:50:54 AM)
NEWS CATALOGUE
- Vietnam will become a destination for Chinese investors in the future
- What do FDI enterprises recommend to the Vietnamese Government?
- Up to now (2023), how much money have Asian tigers invested in Vietnam?
- Another semiconductor manufacturer expands in Vietnam
- Billions of dollars poured into Vietnamese semiconductor projects
