Textile and garment enterprises are facing a shortage of orders and have to change their product structure

DNHN - In the first three months of this year, the textile and apparel industry's exports fell by approximately 18 per cent compared to the same period in the previous year. Currently, the majority of businesses are experiencing a shortage of orders

Mr Truong Van Cam, Vice President and General Secretary of the Vietnam Textile and Apparel Association, was quoted in VOV as saying, "The current situation is not only challenging for the textile industry but for the entire economy." In markets such as the United States and the European Union, economic growth has not been as anticipated. We believe it has a significant impact on consumer behaviour. As a result, consumption decreased significantly and inventories increased, causing numerous difficulties for businesses.

According to Than Duc Viet, general director of Garment 10 Corporation, textile businesses face numerous challenges. When consumer demand declines, the market shows no signs of growth. Currently, May 10 is concentrating on market work, minimising costs, enhancing competitiveness by increasing labour productivity, and investing in modern machinery and equipment to promote operations. production as well as prompt response to customer needs are also priorities.

"Not only in Vietnam, but in all producing and exporting nations, including Bangladesh, India, and China... May 10 prioritises quality orders. Mr Viet stated that the price is high, the average price is higher, and the order is small, requiring good quality and prompt delivery.

Due to the market's long-term fluctuations and difficulties, numerous textile and apparel companies quickly devised solutions to deal with the situation, ensuring the achievement of production and business objectives. Particularly, strengthening solutions for yarn businesses to maintain production, stabilise labour sources, guarantee cash flow, and prepare resources to catch up when the market recovers.

TH