According to the president of the Vietnam Ho Chi Minh City Clothing, Textile, Embroidery and Knitting Association, many textile companies have received orders until June 2011, and some companies have even received orders as late as September 2011. Among them, orders from Chenggong Textile Company have been maintained until September 2011.
In addition, No. 10 Textile Company was able to digest orders in June 2011 because the demand in 2011 increased significantly compared with 2020 and 2021. Vietnam’s textile industry has grown significantly since the end of 2021, and the industry still maintained strong growth from January to February 2011.
The president of the Vietnam Textile and Garment Association said that from January to February 2011, Vietnam’s textile exports reached US$8.2 billion, an annual increase of 59%. He estimated that the industry’s export value in the first quarter of 2011 would reach US$12.7-12.8 billion.
Due to the preferential tariffs brought to Vietnam by the Vietnam-EU Free Trade Agreement and the Vietnam-UK Free Trade Agreement, enterprises in this industry will strengthen exports to the above-mentioned agreement countries. The Vietnam Business and Industry Information Center stated that the industry’s export value reached US$39 billion in 2021, an annual increase of 22.2%, but exports to major markets have not recovered.
In addition, Vietnamese textile companies face very high logistics costs (an average increase of three times in the past five years). In addition, companies in South Vietnam face labor shortages. The region’s exports account for 40% of Vietnam’s textile industry production. Vietnam also faces strong competition from China, Bangladesh, India and other textile and clothing exports. </p
