Prime Minister Nguyen Xuan Phuc visits May Tuyen Quang: Afternoon 26 February 2017, Prime Minister Nguyen Xuan Phuc visited and worked at Tuyen Quang Garment Factory (Phuc Ung, Son Duong, Tuyen Quang). The factory invested by Vietnam National Textile and Garment Group (VINATEX) with the capital of over 200 billion VND, has the latest technological tailor-made veston line and operated by the end of 2016. At present, the factory is creating jobs for 600 employees and plans to create jobs for 1,200 workers. Tuyen Quang Garment Factory is one of the important investment projects of VINATEX, contributing to change the economic structure of the province and increase the export capacity of the Group. Prime Minister Nguyen Xuan Phuc praised and appreciated the efforts of the factory leaders after a short time in operation have exported products, creating jobs and income for local people. The PM also reminded the factory leaders to focus on high quality products to serve UK and Japan customers, beside that they must pay attention to fire prevention. The Prime Minister kindly advised factory leaders and kitchen staff to carefully care for workers' meals, ensuring food hygiene and safety. The Prime Minister praised the Group's investment activities while encouraging the Group to focus on developing Tuyen Quang Garment Factory as a model for further replication of similar factories in other districts of the province, creating more jobs for people, contributing positively to change the face of local economy.
Hanoi Party Secretary Hoang Trung Hai visited Dong Xuan Knitting Company: On 3 February 2017, on the occasion of 87th anniversary of the founding of the Communist Party of Vietnam, Hanoi Party Secretary Hoang Trung Hai paid a visit Dong Xuan Knitwear Co Ltd (Doximex). Mr Hoang Trung Hai visited the production line of Doximex, enthusiastically asked and encouraged Doximex employees who are working hard in the early spring of 2017. Comrade Secretary also praised Doximex's outstanding achievements in the past 55 years, affirming that it is a typical unit of the capacity and creativity of the DM Vietnam industry, leading in the advanced mode of production ODM and VINATEX leading the entire industry follow strategic development of supply chain package, value added for DM Vietnam products in the time of globalization, fierce competition. In addition, Doximex is also an example of labor productivity, creating the image of modern textile Vietnam workers, meeting the requirements of integration, high capacity and technology, the owner of machinery, work. Advanced technology, good labor productivity, competitive with other countries in the region and internationally. Doximex also built strong Party for many years, with young, enthusiastic and high-capacity Party members.
IntelloBuy and IntelloCut help save on material costs for the textile Vietnam industry: ThreadSol (Singapore) - a corporation specializing in providing raw material management services in the apparel industry, introduced a cost saving solution for the textile industry in Vietnam. Specifically, ThreadSol's intelloBuy and intelloCut can help Vietnamese garment factories save a huge amount of raw material costs as well as significantly increase profits for an industry that depends heavily on business priorities. fall. Accordingly, IntelloCut and IntelloBuy solutions can provide complete enterprise resource management, enabling manufacturers to save costs and increase productivity by up to 50 percent. This can be the answer for the whole DM Vietnam industry if applied timely.
Ao dai Festival HCMC 2017: The 4th Ao dai Festival 2017 at HCMC takes place from 03 March 2017 to 17 March 2017 by the Department of Tourism HCMC in collaboration with the Women's Union of HCMC and with theme "Charming Ao Dai", this year's program will take place with the activities of fashion shows, exchanges and the interaction between performers and visitors to bring traditional artistic values closer to visitors and the public. At this festival, visitors will have the opportunity to enjoy many art shows take place at Nguyen Hue Walking Street such as: "Elite of Ao dai Viet", “The charm of the year" ... The shows are designed with a variety of segments honoring the designers, artists, textile artisans, tailors together to create and preserve the beauty of Vietnamese traditional dress.
Investment projects of VINATEX are actively implemented: In 2016, VINATEX has implemented 41 investment projects including 9 fiber projects, 9 textile dyeing projects, 17 sewing projects, 6 projects Upgrading, repairing, replacing machinery. The total investment of the Group is 5,523.7 VND billion. In which, divided into 5 investment fields: Investment projects in the fiber sector has 10 projects with a total investment of 2.073 billion; The investment projects in the field of textile (dyed) has 9 projects with a total investment of 1,399.5 VND; Investment projects in the field of garment have 13 projects with a total investment of 1,225.8 billion; The projects of upgrading, repairing and replacing equipment have 7 projects with a total investment of VND 277.2 billion; Other projects in the field have 18 projects with a total investment of VND1,953.8 billion. In the past, due to capital constraints and lacking of acttraction from many investors to build textile, dyeing and finishing plants, so in the value chain of the Vietnam textile. Only the strength in the first stage is fiber and the last stage is May. Therefore, in the future, VINATEX will focus on investment as well as call on FDI partners to invest in textile, dyeing, finishing and raw materials projects - that is strategy. It is important to establish a complete supply chain for Vietnam Textile, create added value and competitive advantage for the industry, reduce the proportion of imported raw materials and improve localization. In the year 2016, the parent company - VINATEX as investor has implemented 08 investment projects including transitional projects from 2015 and new construction, put into operation trial production 07 projects.
VINATEX signed a contract with Itochu (Japan): On 16 January 2017 in Hanoi, VINATEX signed a contract with Itochu Corporation (Japan). The ceremony was attended by Prime Minister Nguyen Xuan Phuc and Japan’s PM Shinzo Abe. Itochu is the leading business corporation in Japan, doing business in many fields, includingt textile. In the cooperation agreement with VINATEX, Itochu will become a partner for VINATEX and its subsidiaries when requested by VINATEX, in the development of supply chain for textile, fiber, fiber, can i, sell Cooperate, attract and introduce coping companies inside and outside Vietnam. Mr. Shuichi Koseki - Senior Director of Weochu textiles, said in a ritual, that VietNam Textile is very important to Itochu so the Group wants to develop cooperation with Vietnam, of which VINATEX is Number 1 partner. The time is going to push up the same printers of the second side, providing the entire world. Speaking at the ceremony, Mr. Le Tien Truong - General Director of VINATEX wishes that the two sides will actively cooperate, hands up and put into operation soon in the rankings, In the way of making textile by VINATEX, moving from CMT to FOB, developing package supply chain, developing stable distribution system for long term.
Textile industry actively responds to challenges without TPP: The TPP agreement is expected to bring great benefits to the textile. However, recently, the United States officially withdraw from the TPP has raised the issue of reviewing the impact of TPP on the economy of Vietnam in general and the DM sector in particular. According to Mr. Le Tien Truong - Vice President of VINATEX, TPP without the United States can bring some benefits to Vietnam, as there will be a certain amount of time to prepare for the general agreement. Vietnam is considered one of the countries that can achieve the highest growth from TPP. But those opportunities require conditions related to economic management, competitiveness of the economy, so that businesses and the economy of Vietnam can absorb the benefits of TPP. With the textile sector, even if the TPP is approved, Vietnam can not benefit immediately but must have time to prepare conditions that meet TPP's origin requirements. This is still the time when textile Vietnam companies need to actively prepare ready to integrate at any time for free trade agreements, not TPP alone.
"Italia Design Day" is being held in Vietnam from 02-03 March 2017. On the initiative of the Italian Ministry of Foreign Affairs, the "Italian Design Day" was first held in many countries around the world. Hanoi is selected as one of the cities in the world to hold the "Italian Design Day". In these days, "50+ Exhibition" and the talk between the Italian design ambassador and fashion designers in Vietnam took place on 2 March 2017 at the Italian House, 18 Le Phung Hieu Street, Hanoi. Barbara Trebitsch who was named "Ambassador of Italian Design in Vietnam" said that this is an opportunity to meet and seek long-term cooperation for two Italian-Vietnamese fashion. Italian Ambassador to Vietnam Cecilia Piccioni said that the Italian fashion industry is very developed and contributes significantly to Italy's GDP. She hopes that this event will be a motive force for the fashion industry in Vietnam to develop. Expected "Italian Design Day" will also be held in HCMC
FDI line FDI in textile and garment can be slowing. Le Tien Truong - General Director of VINATEX when talking about the FDI flow into textile can. According to Mr. Truong, with the TPP agreement's ineffective agreement, converting trade and investment in the textile and garment industry could become Vietnam's sign of slowdown. From the 3rd quater of 2016, the single menu becomes more difficult. In fact there has been fierce controversy in the second half of 2016 to keep customers and market share of businesses. Especially, this competition process takes place in the context of no growth. Competitive nations devaluate their currencies at a large scale such as China, which is approximately 10% from August 2015 to November 2016, Indonesia, India and Bangladesh all devaluating over 10% during the first 11 months of 2016 while the tendency of commodity prices from Vietnam is relatively high. Year 2017, is the year for the textiel market. A number of new barriers, including tariffs and non-tariff barriers, are expected to emerge in 2017. Therefore, in order to achieve the export target, the market solution recommended by VITAS is to continue to consolidate and boost its position as the second largest market share in the United States and Japan.
BAT TAX POLICY - Vietnam's export worries: According to analysts, Border Adjustment Tax (BAT) policy is likely to be approved by the US Congress this year. The details of the BAT may also be adjusted. However, according to Viet Dragon Securities Corporation (VDSC), the US tax policy will continue to focus on three major goals: to encourage companies to remain in the United States; Restricting the status of companies investing abroad (to enjoy lower rates and re-selling into the United States); Reduce the trade deficit and budget deficit. Once the BAT is deployed, Deutsche Bank reports that Mexico will be the biggest victim, followed by Vietnam. Another thing to note is that the impact of the tax is coming slowly while the dollar fluctuates immediately which directly reflecting the price of the commodity in the market. At this point, the advantage is more favorable to the importers to the United States, while the United States exports are at risk of weakening. This is probably what the United States will have to weigh more carefully before deploying BAT. However, according to the VDSC, a contingency plan for BAT is still needed from now on.
Textile and garment enterprises - Enhancing competitiveness through the application of science and technology: In the face of increasing competitive pressures in the market, domestic enterprises must exploit to make the most of available resources to create Synergy, towards stable and sustainable development, creating different brand. To create this, the role of applying science and technology is very important. Competitiveness issues depend on increasing productivity and product quality. Labor productivity and product quality are heavily dependent on the technology and equipment used, ie, scientific and technical factors. In the coming time, in order to survive and develop, textile enterprises should continue to innovate management methods, apply science and technology use advanced technology equipment apply technical standards. From the input materials to the final product, it is necessary to comply with the mandatory requirements for safety of textile product in order to export or process goods for large ecological labels and retailers in the supply chain for Global. At the same time, the management agencies should focus on building the system of national standards and technical standards in accordance with the appropriate standardization in harmony with international practices, ensuring the prestige of Vietnam export. To strictly enforce the regulations on product safety, the industry has improved its competitiveness and deep integration into the world economy.
Hanoi Textile University (HTU) - 50 established. On 16 January 2017, HTU celebrated the 50th anniversary of its founding (19 January 1967 – 19 January 2017). Over the past 50 years of construction and development, HTU has become the leading training provider of high quality textile occupations in Vietnam. Especially after nearly two years of HTU upgrading to University. Self-control model, the school has successfully applied modern education and training methods, linking learners with production practices and training in the model of schools next to enterprises. By speaking at the ceremony, Mr. Le Tien Truong - VINATEX CEO emphasized that the school should focus on training to apply the latest achievements in science and technology. Later generations need to study and promote the heroic tradition of the preceding generations. The challenge of the new generation The school is the wisdom, qualifications and capacity of the staff and lecturers. Therefore, people need to train in terms of level, update the training program and gather the brainpower of various human resources across the country as professors, teachers famous in and out. Water, from the company, the source of support from equipment suppliers around the world. School leaders need to consistently aim to build HTU as the largest training school in the textile industry in the country and to serve ASEAN countries.
Sourced from VITAS
