Phạm Ngọc Thái – Page 31 – Công Ty Cổ Phần Sợi Thế Kỷ

Hard times for Vietnam’s small apparel firms

26 May, 20219 May, 2016 by Phạm Ngọc Thái

Vietnam’s small and medium apparel enterprises struggled to survive in the first quarter of 2016, with many of them suspending production, as their customers shifted orders to Myanmar and Laos to enjoy lower prices, Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (Vitas) said at a conference in Ho Ch Minh City recently.

Vietnam exported $27.4 billion worth of apparel last year and over $8 billion in this year’s first four months, up 6 per cent against the same period a year earlier, Giang said.

But the Vitas chief said that despite rising shipments, the industry is coping with a slew of challenges. Many small and medium enterprises have been mired in difficulties as they have found it hard to compete.

Giang explained that apparel products of Myanmar and Laos enjoy special tariffs for exports to Europe and the US while Vietnamese firms will have to wait until 2018 to make use of preferential tariffs to export products to these two major markets when the new free trade agreements with them take effect.

Additionally, apparel enterprises have become exhausted by so many inspections by customs, taxation, labour, environment and food safety authorities, with up to three or four inspection teams a quarter.

Giang also reiterated Vitas’s request to the Government to revise the master development plan for the textile-garment industry towards 2020 as it is now outdated. Vietnam’s apparel exports exceeded $27 billion last year against a target of $20 billion for 2020.

He also said that the plan must be revised to match the development of industrial parks to facilitate management and wastewater treatment.

In response, Minister of Industry and Trade Tran Tuan Anh said the development plan would be revised next year to make it compatible to the country‘s international integration moves. (SH)

Fibre2Fashion News Desk – India

9/5/2016

Quote from: “http://www.fibre2fashion.com/news/apparel-news/hard-times-for-vietnam-s-small-apparel-firms-179378-newsdetails.htm“

BOD Resolution No.08-2016 NQHDQT announcing the share issuance to pay dividend and to increase chartered capital from owner’s equity

18 September, 202025 April, 2016 by Phạm Ngọc Thái

BOD Resolution No.08-2016 NQHDQT announcing the share issuance to pay dividend and to increase chartered capital from owner’s equity

BOD Resolution No.07-2016 NQHDQT announcing the record date to shareholders for cash dividend FY2015

18 September, 20204 April, 2016 by Phạm Ngọc Thái

BOD Resolution No.07-2016 NQHDQT announcing the record date to shareholders for cash dividend FY2015

Vietnam’s Textile industry not to gain much from TPP

26 May, 202130 March, 2016 by Phạm Ngọc Thái

Representatives of several textile and garment companies in Vietnam have rejected popular perception that they would be the biggest beneficiaries of the TPP (Trans Pacific Partnership) Agreement.

At a recent workshop organized by World Bank and the Vietnam Chamber of Commerce and Industry (VCCI), industry experts said that the sector would not stand to gain much from TPP and the government’s own policies on the textile and garment industry, a Vietnamese online newspaper has reported.

“Many textile and garment companies are leaving the market because of the state’s unstable policies,” said Truong Van Cam, Deputy Secretary General of the Vietnam Textile and Apparel Association (Vitas) citing the example of an exporter whose import of a printer was delayed by six months because of a government decree that says business owners must have junior college’s degree to be able to import printers.

A business in Nam Dinh province, which employs 2,000 workers, said it has to pay VND40-50 billion additionally every month because of the required higher minimum wage and trade union fee.

“The State’s policies need to be designed in a way to encourage investors to do business and stay in the market,” Truong said.

Another analyst said that the government seemed to be too optimistic about potential opportunities to the textile and garment sector by TPP.

In 2015, Vietnam exported $27 billion worth of textile and garment products, 60 per cent of which went to TPP member countries. However, foreign invested enterprises (FIEs) pocketed most of the money.

He further explained that TPP’s strict requirements on origin of products, would not be of much help for Vietnam as it imports 10 per cent of yarn and 5.3 per cent of cloth from TPP countries while 60-70 per cent of materials needed are imports, mostly from China.

Thus, most of materials needed come from non-TPP countries and products with non-TPP origin won’t be able to enjoy preferential tariffs, he said.

Pham Xuan Hong, chair of the HCMC Textile, Garment, Knitting and Embroidery Association, also pointed out that the profits earned by Vietnamese enterprises are modest because they mostly do outsourcing for foreign partners.

According to an industry report, Vietnam now has 6,000 textile and garment companies, of which garment units account for 70 per cent, 17 per cent are textile enterprises, 6 per cent spinning, 4 per cent are dying enterprises and 3 per cent make accessories and additional materials.

A good 70 per cent of units make products under the mode of cutting – assembling – trimming. This means that Vietnamese are proficient in the last phases of the production chain, and less so in dyeing and weaving. This is not likely to reap much benefit under the TPP agreement, they noted. (SH)

Fibre2Fashion News Desk – India

30/03/2016

Quote from: “http://www.fibre2fashion.com/news/textile-news/vietnam-s-textile-industry-not-to-gain-much-from-tpp–178577-newsdetails.htm“