Green transition helps Vietnam’s textile industry increase its competitiveness in the international market
- 121
- Business
- 13:43 02/05/2024
DNHN - The transition to green production and business is a major trend. Accordingly, the Vietnamese textile industry is no exception, applying sustainable solutions and green transition will help increase its competitiveness in the international market.
Enhancing image and reputation in the international market
One of the important benefits of green transition is creating a sustainable production and business system, which is beneficial for both businesses and the environment. The Vietnamese textile industry has realised that minimising the negative impact on the environment and resources will help improve production efficiency and create high-quality products. The use of recycled raw materials, water-saving management, and energy-saving use play an important role in reducing carbon emissions and waste during the production process. This not only helps reduce the impact on the environment but also enhances the image and reputation of the Vietnamese textile industry in the international market.
The green transition also creates opportunities for the Vietnamese textile industry to develop high-value-added products and meet the demands of demanding markets. In the international market, more and more consumers are interested in buying environmentally and socially friendly products. By applying green standards and sustainable certifications, the Vietnamese textile industry can create safe, non-polluting products that comply with regulations on labour rights and social security. This helps the Vietnamese textile industry capture trends and increase its competitiveness in the international market.
To apply green transition in the Vietnamese textile industry, support and commitment from businesses, the government, and related organisations are needed. Businesses can invest in advanced technologies to minimise environmental impact while ensuring compliance with green standards. The government can promote the development of supportive policies, encourage investment in green technology infrastructure, and provide funding and tax incentives for businesses implementing green transition. Related organisations can provide guidance and assessment to support the Vietnamese textile industry in applying green standards and sustainable certifications.
In addition, building cooperative relationships with international partners is also very important. By participating in global supply chains and adhering to green standards, the Vietnamese textile industry can increase the trust and reliability of international partners. This opens up opportunities to access new markets, expand production scale, and increase revenue.
Green transition in the textile industry is necessary
The Vietnamese textile industry has made significant progress in the green transition and increasing its competitiveness in the international market. Leading businesses in the industry have implemented measures such as using recycled raw materials, strengthening water and energy management, and improving working conditions. The products of the Vietnamese textile industry have also been recognised and highly appreciated for their quality and sustainability in the international market.
However, there is still much work to be done. Businesses in the textile industry need to continue investing in research and development of green technologies, raise awareness of environmental protection and labour rights, and strengthen cooperation with international partners. The government needs to orient and promote supportive policies and create favourable conditions for green transition in the textile industry.
According to Mr Tran Thanh Hai, Deputy Director of the Import and Export Department (Ministry of Industry and Trade), the Vietnamese textile industry will have to compete with 104 export markets, including markets such as Africa, Russia, India, etc., so the green transition in the garment industry is very necessary.
“For example, Bangladesh, thanks to greening the supply chain, has successfully attracted a large number of orders in 2023. This country has up to 153 LEED-certified factories (energy and environmental design orientation) and currently has 500 factories are currently applying for this certification,” said Mr Hai.
In general, green transition plays an important role in increasing the competitiveness of the Vietnamese textile industry in the international market. By applying sustainable solutions and adhering to green standards, the industry can not only create high-quality products but also meet the increasing demands of demanding markets for the environment and society.
Nghe Nhan
Related news
- Viettel collaborated with Ericsson to promote the deployment of 5G networks
- Sun Group proposed to build a 100 km long light rail line from Saigon to Tây Ninh
- How does FDI investment affect the real estate market?
- The banking sector is the highest brand value growth area in 2024
- How to develop secure electronic contracts?
- Real estate credit recovers slower than expected
- Honoring the spirit of the business community and entrepreneurs
- Expectations for businesses to play a greater, more significant role in the nation’s prosperity
- Challenges and opportunities in the final sprint of public investment disbursement
- Long An Province (Vietnam) Organizes Labor Promotion Workshop with Okayama City (Japan)
- Chairman of VINASME: Vĩnh Phúc businesses confidently aim for sustainable development
- Deputy Minister of Natural Resources and Environment Lê Minh Ngân: Enhancing land access for businesses
- Vietnam will become a maritime power in 2045 for this reason
- Many solutions needed for sustainable handicraft exports
- The "fierce" race for market share among securities companies
- Cross-border e-commerce: A driving force for Vietnamese businesses to expand globally
- Business leaders play a pioneering role in implementing ESG
- What needs to be done to improve the oil and gas price regulation mechanism?
- Avoiding cost overruns in the implementation of North-South high-speed railway
- Ben Tre - Eastern vision and potential for sustainable development
Đọc thêm Business
How does FDI investment affect the real estate market?
FDI investment has a profound impact on Vietnam's real estate market, especially during the first 9 months of 2024.
Long An province forges strategic ties with Korean Corporations, strengthens role in international economic relations
During a recent investment promotion mission to South Korea, a delegation from Long An Province, held important meetings with major Korean corporations such as STS Group, CS Wind, and GS Energy.
Green Power – Bringing a Green Mark to the Community
Renewable energy and semiconductors are the current and future trends. Vietnam and Global Power JSC (Green Power) is on a journey to conquer the market.
Real estate credit recovers slower than expected
Real estate credit is recovering slowly but is expected to grow rapidly thanks to low interest rates and more favorable supply. However, high house prices and low liquidity remain major challenges for buyers and investors.
Long An Province continues to Promote Korean Investment, Strengthen International Ties, and aim for a Green Economy and sustainable development
In the face of globalization and the growing demand for sustainable practices, Long An Province is proactively seeking foreign investment, particularly from South Korea, a key strategic partner for both Vietnam and Long An Province.
Challenges and opportunities in the final sprint of public investment disbursement
With just over 3 months left until the end of the 2024 fiscal year, the public investment disbursement rate has only reached 47.29%. The pressure is increasing, requiring ministries and sectors to concentrate their efforts in the coming period.
Long An is committed to accompanying and welcoming businesses "like family"
The province of Long An hopes that businesses investing in Long An will feel like they are returning to their home, collaborating together for long-term and sustainable development.
Vietnam - Cambodia - Laos: The friendship and solidarity relationship forged through challenges is an invaluable asset for the people of the three countries
Vietnam's investment in Cambodia and Laos remains among the top, with 205 projects in Cambodia (USD 2.95 billion) and 245 projects in Laos (USD 5.5 billion).
Vietnam will become a maritime power in 2045 for this reason
For Vietnam to become a strong maritime nation, wealthy from the sea as the Party and State have set out, many bold and synchronous solutions are being proposed.
2030 business Club organizes the forum "Young entrepreneurs - Global aspirations 2024
This year's event continues to be a space for sharing and connecting for over 500 entrepreneurs and businesses from both domestic and international markets.