Positive signals from textile and garment enterprises

In 2024, textile and garment enterprises in Phu Tho province continue to face many challenges as consumer demand declines and import markets introduce new regulations related to human rights and environmental appraisal. Therefore, these enterprises are proactively implementing sustainable development solutions to improving quality, diversifying product to meet market requirements.

Sewing clothes for export at Yakjin Vietnam Co., Ltd. (Thuy Van Industrial Park, Viet Tri city).

Currently, most textile and garment business in the province have production orders. These are positive signs, contributing to helping businesses invest in equipment and increase production and scale.

General Director of Seshin Vietnam Co., Ltd., Mr. Baek Jung Hyun said: "In 2023, while the entire textile industry faced many difficulties and revenue declines, we had implemented many solutions to maintain production and business targets, ensuring stable jobst for employees. Our company’s orders have increased from the fourth quarter of 2023. According to industry experts, Vietnam’s textile and garment industry will recover in 2024. After Tet holiday, more than 2,200 employees of the Company began production with the determination to successfully complete the planned targets".

Director of Shillim Vietnam Co., Ltd., specializing in manufacturing export packaging (Van Co ward, Viet Tri city), Mr. Jeon Kyu Hwan also affirmed: "Faced with market challenges in 2023, our operating perspective is to keep employment stable even without growth. Although the revenue of some units has decreased, the income of 500 employees is still maintained at VND7-8 million per person per month. Thanks to the in-depth investment strategy, labor productivity has been increased to compensate for reduced processing unit costs, optimizing profits. In 2024, with many unpredictable market fluctuations, we are ready to accept both opportunities and challenges, at the same time, build a risk management system and willing to overcome difficulties to complete the production goal of over 3.5 million products."

According to economic experts, Vietnam’s textile and garment industry in 2023 faced unprecedented difficulties due to geopolitical instability and rising inflation globally. Many of Vietnam’s main export markets such as the US, EU, etc. have restrictions, causing Vietnam’s textile and garment export turnover to decrease.

The recent return of new orders shows that the textile and garment industry is continuing to recover, aiming for a prosperous year 2024. To complete production and business goals by 2030, this industry will gradually shift its focus from rapid to sustainable development. The main solution will focus on investing in the development of science, technology and human resources. Besides, continue to diversify markets, products and customers as well as apply automation technology in some production lines to meet market needs.

Trinh Ha