Product

Textiles and garments

Vietnamese textiles and garment industry has become one of the major industries in the national economy. It helps create jobs, produces goods for domestic consumption and export, takes part in the development of the country and maintains socio-economic stability.

Total production of the industry takes up 9% of overall industrial production of the nation. Export earnings of the industry in 1999 made up to 15% of total exports of the country. It employs nearly 1 million people. The Vietnam Textiles and Garment Corporation (Vinatex) is a State-run business operating according to the business corporation model with 50 member companies. The corporation manufactures 75% of the country’s yarn, 45% of cloth and nearly 40% of garments. The corporation employs nearly 100,000 people, excluding those employed by joint ventures.

The industry has invested in new equipment for better quality products to meet market tastes since the doi moi (renovation process).

According to a 1999 figure, there were 187 textiles and garment businesses in Vietnam, 70 of them are in textiles business and 117 in garment business and 800 private businesses with 600 of them in garment production and 200 in textiles.

More than 30% of the industry’s textiles equipment and 95% of the garment equipment have been modernised, producing about 85,000 tonnes of fabric and nearly three million metres of cloth per year. The industry also produces about 90,000 million knitting items and 25,000 sheets of cotton cloth together with 400 million garment items.

The Vietnamese textiles and garment industry has trading relationship with almost all continents in the world, of which the biggest markets are the European Union, Japan and countries in Asia and north America, especially the United States. Export turnover of the industry is one of the top ten in the country with earnings reaching US $1 billion in 1996, US $1.747 billion in 1999 and expected to reach between US $1.9 billion to US $ 2 billion this year.