Garment sector severely hit by mass layoffs
HCMC – The textile and garment sector in Vietnam has witnessed a significant impact on its workforce this year, with around 70,000 employees nationwide losing their jobs and another 66,600 having less working hours in January-May, the Ministry of Labor, Invalids and Social Affairs reported.
Challenges surround garment enterprises
Textile and garment firms have been through a roller coaster ride, with profits going up in the first half of 2022 and nosediving during the second half. Financial problems plague apparel firms The textile and garment industry has steadily recovered from the impacts of the Covid-19 pandemic. It
VITAS works out growth scenarios for textile industry in 2023
HCMC – The Vietnam Textile and Apparel Association (VITAS) has forecast two scenarios for Vietnam’s textile and apparel next year. VITAS said that exports of key industries, including textiles, would plunge in early 2023 due to runaway inflation and expectations of global recession, resulting in a
Vietnam’s products make their brands
Vietnam is considered one of Southeast Asia’s most booming high-end product markets, worth nearly US$1 billion. Recent years have seen the domination of foreign products through official agents and hand-carried goods. While Vietnamese brands dominate most of the market, they are positioned in the