Vietnam moves ahead in yarn and dyeing. More than 2.5 million tons of yarn were produced in 2019, exporting more than 1.5 million tons of this. Six times also the fabric production has increased.
Technological applications are reflected in improved productivity, accelerated production and reduced labor force and offer workers stable jobs with higher incomes while helping companies double profits. The textile and garment industry is stepping up its sustainable development strategy implementation to meet the requirements of major foreign markets. It is also predicted that free trade agreements which will come into force in 2020 and the penetration of foreign brands will support the growth of the industry. Through signing a series of free trade deals, Vietnam is aiming to establish a large playing field for its garment and apparel businesses. The EU-Vietnam Free Trade Agreement (EVFTA) and the Trans-Pacific Partnership Comprehensive and Progressive Agreement (CPTPP) bloc are among others.
Manufacturers in the field, apart from educating human resources, have applied advanced science and technology to greening the industry. Vietnam’s garment and clothing export earnings increased by 10.19 per cent. Vietnam is Asean’s (Association of Southeast Asian Nations) main apparel and garment exporter. The US is Vietnamese textiles and clothing’s main importer led by the EU and China.