A spokesperson for Saigon 3 company said that garment exports have improved and theorder book is fullfor until July.

"Demand from the U.S. has recovered, and so the company's first quarter revenues were up from the same period in 2023."

Than Duc Viet, CEO of Garco 10, said his company’s revenues rose 15% year-on-year and it has enough orders for until the end of the third quarter.

This year it is expanding its customer base and targets revenues of VND4.5 trillion (US$180.3 million), up 6.6% from 2023, and profits of VND130 billion, a 5.7% increase, he said.

Major textile company Thanh Cong is targeting a 20% rise in profits.

Vu Duc Giang, chairman of the Vietnam Garment and Apparel Association, said the garment industry has shown improvement and the increased order volumes would help enterprises recover from a rough 2023.

Last year exports had declined by over 9% to $40.3 billion due to weaker demand in major markets such as the U.S. and EU.

But they rose by 9.62% in the first quarter of this year to $9.53 billion, according to customs data.

At the current trajectory, theexport target of $44 billionfor this year is well within reach, Giang said.

But garment businesses are concerned that geopolitical conflicts could stymie recovery.

Many are pessimistic since the higher shipping costs caused bytensions in the Red Seahave hit their profits badly.

They are also under pressure to meet global fashion brands’ stringent requirements with respect to sustainability, extended producer responsibility, digital transformation, and environmental, social and corporate governance.

Concurring with this, Giang said garment exports to the EU might decline due to higher standards on emissions set by the European Green Deal.

Vietnamese businesses need to proactively embrace green transformation, amend their production processes and invest in new technologies to maintain their competitiveness and meet the demands of global supply chains, he added.

Garment sector eyes 44 billion USD in export this year

The garment and textile sector has set a target of 44 billion USD in export turnover this year, up 10% year-on-year.

Vietnamese textile-garment sector logs record number of export markets

Vietnam's textile and garment products have been exported to 104 countries and territories this year – a record number, said Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang.

Blood and hair donation festival at Ha Phong Export Garment Export JSC

BAC GIANG - The Steering Committee for Voluntary Blood Donation (Steering Board) of Hiep Hoa District (Bac Giang province) and the Trade Union of Ha Phong Export Garment Joint Stock Company (Ha Phong JSC) recently coordinated with Vietnam – German Hospital to organize a blood and hair donation festival for cancer patients.

Vietnam introduces garment and textile products in India

The Vietnam Trade Office in India arranged a pavilion to introduce Vietnam's textile and garment products at Intex South Asia, an international textile sourcing show opened in New Delhi on December 7.

Textile and garment enterprises adapt to market fluctuations

The total export turnover of the textile and garment industry exceeded 26 billion USD in the first eight months of this year, down 16.4% over the same period in 2022 and only reaching 65.5% of the year’s plan. The textile and garment industry faces many difficulties due to declining consumer demand, increasing competition, and falling orders.

Source: VnExpress