billion USD during the first nine months, a 17 percent increase against
the same period last year, reports the Vietnam Textile and Apparel
Association.
The industry is likely to surpass its scheduled 10.5 billion USD benchmark for the year.
The sector's solid performance is attributed to an increase in orders
from foreign clients and the products' prices increased by 15-20
percent.
Export growth to the European market keep stagnant, while other markets remain accelerating during the period.
The country's export to the US market increases around 20 percent
and to Japan raises by 15 percent and to ASEAN nations goes up by 17
percent.
Especially, the trade agreement between
ASEAN with the Republic of Korea has helped boost Vietnamese
garments' export to the market with the sharp increase of 80 percent.
The association reported that many garment makers had
so far received enough orders for export this year, and signed contracts
for export next year.
However, the association
claimed that the early orders may shrink profit of the enterprises amid
on-rising prices of input materials, accessories and higher salaries.
To satisfy increasing demand of international
contracts, ten companies under the Vietnam National Textile and Garment
Group (Vinatex) have recently made production expansion investments to
meet increasing orders from foreign partners as well as higher demand at
the local market.
The Nha Be Garment Joint stock Co
has approved a plan to inject thousands of billions of dong to
implement tens of projects on textile, garment, washing and dyeing.
The Dap Cau Garment Joint Stock Co invested nearly 100 billion VND
(5.13 million USD) in a new factory in the northern province of Bac
Ninh. It was put into operation in February and has the capacity to
produce 9 million products annually.
Nguyen Dang
Luan, chairman of Dap Cau Co, said the new facility would help the firm
meet the rising number of export contracts.
"When
the factory was prepared to begin operating the first 16 production
lines the firm had already signed export deals for the whole year with
three partners, generating 1,800 jobs," Luan said./.
