According to General Director of the Việt Nam National Textile and Garment Group (Vinatex) Cao Hữu Hiếu, the group has predicted its difficulties of this year since 2022. For yarn production, the difficulties include low demand for yarn in the market, and more competition in the price of yarn after China officially reopened. Meanwhile, "the garment industry has had only small orders with a few thousand products, and processing price per unit of the garment products has dropped sharply. According to the Việt Nam Textile and Apparel Association (VITAS), most manufacturers in the global textile and apparel supply chain, not only Việt Nam, are receiving requests to meet green standards from big brands. Meanwhile, Việt Nam has also committed to reducing emissions to zero by 2050 at COP26.

Source: Viet Nam News June 23, 2023 06:46 UTC