Textile is still facing difficulties in the last months of the year
According to statistics of the Ministry of Industry and Trade, in the past 10 months, the export turnover of the textile and garment industry reached 27.4 billion USD, continuing to hold the position in the top 5 key export products of Vietnam.
In the last months of the year, textile and garment enterprises have made efforts to boost production and business, find partners and expand export markets. The United States continues to be Vietnam’s largest export market in the past 10 months, with a turnover of 49.9 billion USD, up 26.6% over the same period last year. ASEAN reached 21.3 billion USD, up 2.6%; Japan reached 16.6 billion USD, up 7.5%; Korea reached 16.6 billion USD, up 9%.
However, Vietnam’s textile and garment industry is still facing many difficulties and challenges. The competition for orders between domestic enterprises and foreign direct investment (FDI) enterprises as well as countries: Thailand, India, and Indonesia is becoming increasingly fierce.
In addition, many businesses are facing a shortage of orders, even some businesses have had to close down, facing the risk of bankruptcy.
The cause of this situation is that most orders tend to be divided, customers are apathetic in placing long-term orders, especially the situation of low price pressure makes the profit of the business decrease. Orders from China tend to move to countries with preferential tax rates such as Bangladesh, Cambodia instead of entering Vietnam as before.
In addition, the advantage of cheap labor is no longer available when many countries have labor costs only half that of Vietnam’s textile and garment industry. In order to attract orders, countries have applied many policies to support their textile enterprises such as: reducing many taxes, promoting exports, making the risk of losing orders of Vietnamese enterprises increasing. .
Mr. Truong Van Cam, Vice President and General Secretary of the Vietnam Textile and Apparel Association (Vitas), said that in the context of extremely fierce competition, achieving a growth rate of about 9% is a great effort of the company. entire textile industry.
According to industry experts, from now until the end of the year, to achieve the set export target of 40 billion USD, enterprises must actively seek partners and expand export markets. It is necessary to change production and business methods in line with trends and meet the increasing demands of consumers. Focusing on exploiting orders with high technical requirements, making the most of skilled human resources in the country as well as meeting fast and accurate delivery times, ensuring quality according to customers’ requirements./ .
According to VOV
