After the Spring Festival holiday in 2022, Vietnamese textile enterprises have resumed work quickly, and export orders have increased significantly; many textile enterprises have even placed orders for the third quarter of this year.

Garment 10 Joint Stock Company is one of the textile and garment enterprises that will start production on February 7 after the 2022 Chinese New Year.

Than Duc Viet, general manager of Garment 10 Joint Stock Company, said that after the Spring Festival, more than 90% of employees have resumed work, and the resumption rate of factories has even reached 100%. Unlike the past, the textile and apparel industry usually has fewer job vacancies after the Spring Festival, but this year’s Garment 10 orders have increased by about 15% compared with the same period in 2021.

Than Duc Viet pointed out that the orders signed on May 10 last year have been placed until the end of the second quarter of 2022. Even for key products such as vests and shirts, after 15 months of idling, the current order has been placed until the end of the third quarter of 2022.

The same situation also appeared in the Z76 company of the General Directorate of Defense Industry of the Ministry of National Defense of Vietnam. Pham Anh Tuan, director of the company, said that since the fifth day of the new year, the company has started production and 100% of its employees have resumed work. So far, the company has received orders until the third quarter of 2022.

The same is true of Huong Sen Group Co., Ltd., its deputy general manager Do Van Ve shared the positive phenomenon of textile and apparel exports in 2022: we have started production on February 6, 2022, and the resumption rate is 100%; the company strictly abides by epidemic prevention measures, and employees are divided into 3 shift production. Since the beginning of the year, the company has exported 5 cabinets of products to South Korea, China and other countries.

LeTien Truong, chairman of Vietnam National Textile and Apparel Group (VINATEX), said that in 2022, VINATEX set an overall growth target of more than 8%, of which the added value rate and profit rate must reach 20-25%.

In 2021, the consolidated profit of VINATEX reached a record high of VND 1,446 billion for the first time, 2.5 times that of 2020 and 1.9 times that of 2019 (before the COVID-19 epidemic).

In addition, logistics costs are continuously reduced. At present, logistics costs account for 9.3% of the cost of textile products. Another Le Tien Truong said: Since the production of textiles and clothing is seasonal and not evenly distributed every month, the number of overtime hours per month must be adjusted flexibly.

Regarding the overall export situation of the textile and apparel industry, the Vietnam Textile and Apparel Association (VITAS) forecasts an optimistic situation this year, as major markets such as the United States and the European Union have reopened.

“Business Times”:

Vietnam fully deserves the title of “Asia’s New Tiger”

Singapore’s Business Times magazine recently published an article predicting that in 2022, the Year of the Tiger, Vietnam will establish its status as the “new tiger in Asia” and achieve breakthrough success.

The article cites the World Bank (WB) assessment that Vietnam is currently one of the most dynamic and developed countries in East Asia. Vietnam is recovering from the COVID-19 pandemic, and this process will accelerate in 2022. A research team from Singapore’s DBS Bank (DBS) predicts that Vietnam’s GDP is expected to grow by 8% in 2022.

At the same time, the International Monetary Fund (IMF) predicts that Vietnam’s GDP growth rate will rise from the sixth place in the Association of Southeast Asian Nations (ASEAN) this year to the third place after Indonesia and Thailand. The number of middle class and super-rich is rapidly increasing.