Vietnam’s textile and garment industry aims to achieve 47–48 billion USD in export turnover in 2025, according to Vu Duc Giang, Chairman of the Vietnam Textile and Apparel Association (VITAS).

Bangladesh needed only two years to jump into second position in the world in textile and garment exports. Experts believe that to stand among top exporters, Vietnam needs to make investments in green production.

The EU spent nearly US$3.1 billion on importing garments and textiles from Vietnamese suppliers during the initial nine months of the year, up nearly 10% against the same period last year, according to the General Department of Vietnam Customs.

The recovery of Vietnam’s garment-textile sector remains on track and is expected to make breakthroughs in the time ahead, insiders have said.

Numerous textile and garment enterprises are intensifying efforts to green their production processes, aligning with environmental standards and regulations concerning product origin.

Vietnam has scored higher overall than China and Bangladesh in the United States Fashion Industry Association (USFIA)’s recent survey comparing the competitive advantages of textile-exporting countries to the US.

In the face of unpredictable volatility, Vietnam's companies are investing in technology, innovation and production to meet the targets they have set themselves, whilst keeping a close eye on market trends.

Vietnam's textile and garment businesses are making a green push with development of eco-friendly products adapted to global fashion trends and by meeting the stringent requirements under free trade agreements the country has signed.

Textile and garment exports posted a year-on-year increase of 15% in the first two months of 2024, a result partly attributed to the industry’s gradual adaptation to the green production requirement of import markets.

Vietnamese textile and garment businesses have been actively promoting brand development, with many of them implementing strategies to introduce their products to the global market, according to industry insiders and experts.

The garment and textile sector has set a target of 44 billion USD in export turnover this year, up 10% year-on-year.

Expanding their customer base and diversifying products are among the solutions that Vietnamese textile and garment producers are applying to maintain their competiveness with new rivals.

The textile and garment industry in VN wants a bilateral agreement or a free trade agreement to reduce export taxes upon entering the Canadian market.

Vietnam's textile and garment products for export are set to meet ecological standards under the requirements of free trade agreements.

Recycled material content in many textile products had soared to 60 per cent.

The development strategy of the textile and garment industry until 2030 with a vision to 2035 has clearly identified that exports will continue to be a major and crucial driving force for the sector's growth.

Vietnam’s textile and garment industry is facing a tough uphill battle as it is working hard to achieve its ambitious export target of US$39-40 billion for the year, according to the Vietnam Textile and Apparel Association (VITAS).

Bangladesh, which has been implementing policies to improve the greening of its textile and garment industry, has become a rival of Vietnam.

Digital transformation, creating suitable designs and recycling clothes are now proving to be important target activities for the garment and textile industry towards a circular economy and sustainability.