HANOI: Vietnam's garment and textile market showed more positive signs in the fourth quarter, Vietnam News Agency reported Wednesday (Nov 22), citing General Director of Vietnam Textile and Garment Group Cao Huu Hieu.
The prediction was made thanks to the frequent customer inquiries about the source of goods and production capacity, which are the driving force for Vietnam's garment firms to introduce their products and offer suitable prices to win orders, he said.
In the context of sharp reductions in global market demand, the Southeast Asian country's garment and textile firms have been urged to flexibly adopt measures to bring into full play market opportunities and promote growth, so as to fulfil the set goal of over US$40 billion in export revenue this year.
Chairman of Vietnam Textile and Apparel Association Vu Duc Giang said it was necessary to keep customers by accepting small orders, while promoting the exploitation of new markets and reducing costs to step up production and business activities for the benefit of growth.
Vietnam's garment and textile export revenue hit more than $33 billions in the first 10 months of 2023, down 12.45 per cent year-on-year.
The United States, Japan, the European Union (EU), South Korea and China are Vietnam's biggest apparel importers. - Xinhua
