Positive Signs as Textile Industry Maintains 10% Export Growth Target for 2024

DNHN - Textile companies have recorded positive signs in order volume, with some having orders for the entire first quarter and negotiating for subsequent quarters.

In 2024, the Vietnamese textile industry aims to achieve a total export turnover of US$44 billion, an increase of 10% compared to the previous year. Despite forecasts of many difficulties, businesses in the industry are striving to improve production capacity and labour skills, while accepting difficult orders to increase added value.

Currently, textile companies have recorded positive signs in order volume, with some having orders for the entire first quarter and negotiating for subsequent quarters. To ensure stable production and retain the workforce, businesses continue to diversify markets and increase investment in technology and automation of production lines.

Vietnam’s textile industry’s export situation in January 2024 was also quite positive, with export turnover increasing by 28.6% compared to the same period last year. The industry’s production indices also increased significantly, especially the production of fabrics from natural fibres, which increased by 57%.

The Head of the Office of the Board of Directors of the Vietnam National Textile and Garment Group (Vinatex) emphasised that maintaining order negotiation and cutting production costs are extremely important in a context where the market has not changed much. The market shake-out has helped businesses become more competitive and maintain a good position in the industry.

PV