nCoV likely to affect raw material source of garment and textile sector
The Ho Chi Minh City Textile and Garment Embroidery Association said that the material import and export proportion of the country’s garment and textile sector currently stands at between 30 per cent and 40 per cent annually.
According to figures released by theHo Chi Minh City Textile and Garment Embroidery Association, enterprises in the southern city have spent approximately US$7 billion importing raw production materials for the sector, with the majority coming from China.
At present, firms in the city’s garment and textile industry have raw materials for production activities until the end of February as a result of their imports of raw materials ahead of the Lunar New Year (Tet).
Despite this, businesses are becoming increasingly worried about the shortage of the production material source ahead in March and April due to the ongoing impact of the nCoV.
Several businesses are noting that the epidemic could potentially affect trading ties between both Vietnam and China in the coming time.
Currently, local enterprises have moved to adjust their production plans and work alongside each other in a bid to overcome difficulties that may occur in February and March, stated Pham Xuan Hong, Chairman of Ho Chi Minh City Textile and Garment Association.
Related News
Exports face difficulties, businesses strengthen the domestic market
14:15 | 26/02/2023 Import-Export
Garment, footwear exports aim to reach 80 bln USD by 2025
17:06 | 01/02/2023 Import-Export
Textile-garment targets up to 48 billion USD in 2023 export turnover
20:13 | 01/01/2023 Import-Export
Textile and garment export is expected to be US $44-47 billion in 2023
10:00 | 15/12/2022 Import-Export
Latest News
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
More News
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export
HCM City’s industrial production index down 0.9% in Q1
14:47 | 04/04/2023 Import-Export
Fisheries exports estimated at 1.85 billion USD in Q1
14:45 | 04/04/2023 Import-Export
Quang Ninh aims to attract quality FDI inflows
14:43 | 04/04/2023 Import-Export
Exports face many difficulties
13:29 | 04/04/2023 Import-Export
Manufacturing enterprises increase their competitiveness thanks to digital transformation
13:28 | 04/04/2023 Import-Export
32nd Việt Nam Expo promises to boost business linkages
14:19 | 03/04/2023 Import-Export
Prevention of price risks before news that Indonesia increases rice imports in reserve
09:52 | 03/04/2023 Import-Export
Japanese investors highly appreciate Vietnamese property market
17:41 | 02/04/2023 Import-Export
Your care
The system has not recorded your reading habits.
Please Login/Register so that the system can provide articles according to your reading needs.
Saigontex 2023 attracts over 1,300 domestic, foreign businesses
14:01 | 06/04/2023 Import-Export
Mong Cai international border gate sees strong recovery
16:15 | 05/04/2023 Import-Export
Vietnam a potential market for French businesses, investors: experts
16:12 | 05/04/2023 Import-Export
Import and export turnover across Cao Bang prospers but still exists difficulties
10:25 | 05/04/2023 Import-Export
Cashew industry strives to "get on the shelves of world supermarkets"
10:24 | 05/04/2023 Import-Export