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The Viet Nam National Textile and Garment Group (Vinatex)

The Viet Nam National Textile and Garment Group (Vinatex) plans to build two large industrial parks specialising in textile and dye. The two IPs, each covering an area of 150ha, will be built in the Cuu Long (Mekong) Delta province of Tra Vinh and the northern province of Thai Binh. They aim to attract domestic and foreign investors.

–          Vietnam’s garment exports reached US$14.025 billion in 2011, up 25 percent against 2010, the highest growth over the past five years. The sharp increase is attributed to rising export prices and increasing number of export contracts to traditional markets, such as the US, the EU, and Japan.

–          In 2012, it is important for Vietnamese Textile and Apparel manufacturers to choose markets and specific products and make plan to become a long-term strategic partnership with big suppliers. Businesses should focus on markets with high competitive edge, improve productivity, reduce prices and invest in products with high values

–          Vietnam is forecasted to export $15 billion worth of garment and textile in 2012, up more than 10% from 2011. Beside the traditional export market such as the U.S, Europe, Japan, VITAS aims to expand its exports to other market such as Africa, South America, Russia in 2012.

–          Many Vietnamese garment brand names have gradually gained back local market share in low-cost product segments targeting average-income consumers, which used to be dominated by Chinese products.

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