Potential for enhancing trade ties between India and CLMV countries (Cambodia, Laos, Myanmar and Vietnam) was highlighted at a conference which opened in Phnom Penh, Cambodia on May 21. At the conference. Themed “India-CLMV economic development: Collaboration for regional integration”, the two-day event saw representatives from trade ministries, sectors, localities and big enterprises of India and those from the four countries. In his opening remarks, Vietnamese Deputy Minister of Industry and Trade Cao Quoc Hung highly valued cooperation between the CLMV countries and India, saying that India always considers ASEAN in general and the CLMV countries in particular as a focus in its Act East Policy. He affirmed that the maintenance of such events will be an opportunity to further promote regional integration between India and CLMV countries. Hung also pointed out potential for pushing the cooperation mechanism. He said India has the strength in capital, … [Read more...] about Vietnam attends India-CLMV trade conference in Cambodia
Garment sector in cambodia
Textile and garment sector needs mending
Export difficulties Domestic textile and garment enterprises have been working hard to obtain orders, but the resulting number has fallen short of their production capacity. The Hung Yen Garment Corporation is no exception. Management Board Chairman Nguyen Xuan Duong said that in previous years, between January and June, sufficient orders were received for production until the end of the year, whereas in the same period of 2016, many subsidiaries of the corporation didn’t even receive enough orders for production to last them until the fall. While scrambling for additional orders to maintain production, manufacturers were dealt an additional blow: outsourcing prices fell 10-20 percent compared to 2015. According to the Ministry of Industry and Trade, the outsourcing price drop stems from a shifting of large, simple outsourcing orders to Bangladesh and Cambodia, where labor costs are lower than in Vietnam. Meanwhile, the demand for textiles and garments in such major markets as … [Read more...] about Textile and garment sector needs mending
FDI textile-garment projects on the rise
FDI textile-garment projects on the riseBy Le Hoang Local authorities hesitate to develop dying projects due to concerns over environmental pollution - PHOTO: LE HOANG HCMC - The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA) have helped Vietnam attract more foreign direct investment (FDI) in textile-garment projects in the country, officials said. At a press conference held on June 18 to introduce the third Denims & Jeans Exhibition, which will be held in HCMC late this month, Nguyen Thi Tuyet Mai, general secretary and head of the representative office in HCMC of the Vietnam Textile and Apparel Association (VITAS), noted that Vietnam is one of the most attractive markets for those keen on the apparel sector. Early last year, when the United States, the largest buyer of Vietnam's textiles and garments, withdrew from the Trans-Pacific Partnership (TPP), the FDI capital injected into the local … [Read more...] about FDI textile-garment projects on the rise
Vietnam garment sector to boost export growth
The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS). The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Viet Nam Textile and Apparel Association (VITAS).-Photo baonhandao.vn Truong Van Cam, VITAS vice chairman and general secretary, said many textile and garment companies had signed contracts to produce export products in the third quarter of this year. Many Vietnamese garment firms had also sustained high growth this year in traditional markets such as the United States, the Republic of Korea, the European Union, and member-states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Cam said a series of recently-signed free trade agreements (FTAs) was expected to boost the sector. Since 2001, Viet Nam had signed bilateral trade agreements with the US, … [Read more...] about Vietnam garment sector to boost export growth
BUSINESS IN BRIEF 16/4
Poultry breeding heats up again General manager CP Vietnam Montri Suwanposri said that Vietnam’s poultry prices are closer with prices of other countries; accordingly, CP Vietnam will sell chicken to Japan after finishing paper works as per the partners’ requirement. Montri Suwanposri added that C.P in Thailand is the leading firm exporting chicken meat to Japan for years with the quantity of five million a week. There has been an increase in poutry meat orders lately because many countries banned import chicken from Brazil , an exporter of chicken to Japan, after food safety scandal. These countries switched to import chicken meat from Asian countries especially Thailand. At present, prices of poultry in hi-tech farms in Vietnam is similar to chicken prices in other Asian countries, accordingly, C.P Thailand will share its orders with Vietnamese firms and C.P Vietnam has planned to sell chicken meat to Japan in 2019. In 2017, Vietnam’s livestock sector marked its … [Read more...] about BUSINESS IN BRIEF 16/4