TruongVasdfssdfsnCasdfssdfsm Vice President of the Vietnam Textile Association (VITAS) said at the year-end meeting of the association on December 7, 2021 that 2021 is a very difficult year for the Vietnamese textile industry. Although various companies had obtained orders for the third and fourth quarters of the same year in the first quarter, the outbreak of the new coronavirus in North Vietnam in the second quarter of 2021, coupled with the outbreak of the epidemic in Ho Chi Minh City and South Vietnam in the third quarter, caused the production line to come to a halt. In July and August 2021, , textile exports all declined in September. By October 2021, the Vietnamese government issued Resolution No. 128/NQ-CP regarding safety adaptation measures for the initial control of the epidemic. Therefore, production and exports in various industries will gradually resume.
VITAS said that as companies resume production at the end of 2021, they hope to drive the industry to reach an export target of US$39 billion, equivalent to the total exports in 2019. Among them, the value of garment processing exports reached US$28.9 billion, an annual increase of 4%; yarn was US$5.5 billion, an annual increase of 49%.
TruongVasdfssdfsnCasdfssdfsm Vice President said that the export value of foreign-funded enterprises in Vietnam’s textile industry accounts for 59-61% of the industry’s export value, and the export value of domestic enterprises accounts for 39-41% , the total investment by foreign-funded textile enterprises in Vietnam reached US$32.9 billion.
As for the market trend of the textile industry, VITAS predicts that the global epidemic situation will evolve complexly, but the future export prospects of the industry are still good. The United States and the European Union will gradually open up imports of Vietnamese products. In addition, the Vietnamese government has recently implemented good measures in response to the epidemic, which should be able to effectively control the epidemic and avoid another outbreak.
VITAS has set three major goals for 2011. If the epidemic in Vietnam is controlled in the first quarter of 2011, the most optimistic export value will reach US$42.5-43.5 billion; The epidemic will only be under control in mid-2011, and the export target will be set at US$40-41 billion; if the epidemic evolves complicatedly and is extended to the end of 2011, it will be set at US$38-39 billion. </p
