Going green is life-or-death demand for Vietnam’s clothing sector: industry association
Rapidly shifting to green production to ensure green exports and achieve sustainable development is extremely important for Vietnam’s apparel sector as the whole world is demanding sustainability from the industry, the Vietnam Textile and Apparel Association (VITAS) said on Friday.
Greening textile and garment production chains is a global trend compulsory for all businesses to achieve sustainability, VITAS vice general secretary Nguyen Tuyet Mai said at the Vietnam Sustainable Textile Day 2023.
International experts and representatives of Vietnamese apparel firms joined the Friday event held in Ho Chi Minh City by VITAS to discuss proper measures for green transition in Vietnam, a major exporter of fabric and clothing.
Development strategies for the domestic apparel and shoes sectors until 2030 with a vision to 2035 was approved by the government in late December, with a goal of reaching sustainability by 2035, VITAS general secretary Truong Van Cam told the event.
Lisa Ramershoven, an advisor for sustainability in textile supply chains at the German Agency for International Cooperation (GIZ), said the GIZ is promoting sustainability in the sector in Asian countries like Vietnam, Cambodia, Myanmar, Bangladesh, Pakistan, and China so that production conditions are more socially and environmentally friendly.
Relevant stakeholders, including producers, business associations, ministries, labor unions, and international fashion brands, need to intensify their cooperation, she said.
Henk van Beers, social dialog specialist from CNV Public, a labor union representing civil servants and healthcare workers in the Netherlands, said the Vietnamese apparel sector needs to promote dialog between employees and employers.
“We must improve social dialog to encourage people to speak up about how they work, how to improve working conditions, what they expect and the like, or we should have questions like ‘What training do you need?’” said the Dutch expert.
“This will put in more energy, therefore your organization will positively change easier,” he noted.
Nguyen Hong Ha, director of Better Work in Vietnam, said at Vietnam Sustainable Textile Day 2023: "At present, international investors, including venture capital firms, are eager to channel investment into Vietnamese textile and garment firms as the whole sector is seeking to go green."
“Investors see that the Vietnamese industry is proactively advancing toward sustainability and they want to make more inroads into the process,” she explained.
Better Work is a partnership between the United Nations’ International Labor Organization and International Finance Corporation, a World Bank Group member. The program brings diverse groups together - governments, global brands, factory owners, trade unions, and workers - to improve working conditions in the garment industry and make the sector more competitive.
Facing challenges and stricter requirements from overseas markets where orders come from, many businesses in Vietnam have been making changes towards green manufacturing, including upgrading factories and using recycled fabric and green energy.
Spectre, a Danish maker of functional garments for outdoor sports brands, started operating its $17 million factory in the southern province of An Giang last September. As the 38,000 square-meter plant is partly fueled by solar energy, it can reduce 1,600 tons of emissions a year, according to the company. The other two Spectre plants are in the northern provinces of Thai Binh and Nam Dinh.
The Vietnam National Textile and Garment Group (Vinatex) has invested in new technology to reduce 30% of wastewater discharged from the dying process and reuse 30% of treated wastewater. It also aims to use renewable energy for 10% of its power consumption, according to Vinatex.
Hanoi Textile & Garment JSC, or Hanosimex, and Korean company Hansae are co-implementing a recycled fabric production project in Vietnam. The partnership will produce yarn and fabric from recycled materials, and all of the products will be used to make garments for export.
Vietnam earned around $44 billion from textile and garment exports last year, up 8.8% from 2021, according to VITAS. The exported products are shipped to 66 countries and territories worldwide. For this year, the association expects the value to be $47-48 billion in a positive scenario, and $45-46 billion in a less positive scenario.
- Read More
Vietnam’s benchmark VN-Index to reach 1,400-1,420 points in 2025: broker
The VN-Index, representing the Ho Chi Minh Stock Exchange (HoSE), may hit 1,400-1,420 points in 2025, driven by an 18% market-wide profit growth and a price-to-earnings (P/E) ratio of 12.5-13x, according to broker MBBank Securities (MBS).
Finance - Sun, December 22, 2024 | 7:52 pm GMT+7
HCMC's first metro line officially operational after nearly 2 decades
The first urban railway line in Ho Chi Minh City, named Ben Thanh-Suoi Tien, officially started commercial operations on Sunday after nearly two decades of waiting.
Infrastructure - Sun, December 22, 2024 | 2:17 pm GMT+7
Vietnam's 2025 GDP to grow 6.5% on robust infrastructure investment, consumer spending recovery: VinaCapital
Domestic factors, including a ramp-up in Government infrastructure spending, a revival of the real estate market, and a recovery of consumer spending, will help sustain Vietnam's GDP growth at a circa 6.5% pace next year, in-line with the National Assembly’s official target and with 2024 GDP growth, write Michael Kokalari, chief economist at VinaCapital.
Consulting - Sun, December 22, 2024 | 2:00 pm GMT+7
Vietnam shipping, seaport stock rally driven by rosy outlook in 2025
Many shipping and port stocks have risen sharply since November on an optimistic outlook for the industry driven by increasing throughput and a shift in container shipping alliances in 2025.
Companies - Sun, December 22, 2024 | 10:00 am GMT+7
Singapore’s Platinum Victory seeks to raise stake in Vietnam’s REE to nearly 45%
Singaporean fund Platinum Victory Pte. Ltd. has registered to buy another 16.8 million shares in Ho Chi Minh City-based utility firm Refrigeration Electrical Engineering Corporation (REE), aiming to increase its ownership to nearly 45%.
Finance - Sun, December 22, 2024 | 9:29 am GMT+7
1.8 km road connecting Lach Huyen Port terminals to be built in northern Vietnam
The Hai Phong Economic Zone Management Board has taken a significant step forward in enhancing infrastructure around Lach Huyen Port by establishing a council to appraise the environmental impact assessment for the road connecting terminals No. 3 to No. 6.
Economy - Sun, December 22, 2024 | 8:00 am GMT+7
Hanoi TikToker internationally wanted for involving in multi-billion-dollar scam
Hanoi police have issued an international arrest warrant for Le Khac Ngo, known as "Mr. Hunter," a key accomplice in a recently-dismantled massive foreign exchange and securities fraud ring.
Society - Sat, December 21, 2024 | 10:57 pm GMT+7
Unlocking Phu Quoc’s potential to become the 'Hawaii of the East'
Leading global tourism companies have remarked that Phu Quoc has "yet to receive the recognition it deserves," despite its impressive and unexpected growth rate.
Travel - Sat, December 21, 2024 | 7:20 pm GMT+7
Thai central bank maintains policy interest rate at 2.25%
The Thai Chamber of Commerce (TCC) has said it backs the decision by the Bank of Thailand, the country's central bank, to maintain the policy interest rate at 2.25%, considering the move as suitable for a reviving economy.
Southeast Asia - Sat, December 21, 2024 | 5:43 pm GMT+7
Vietnam's military-run tech giant Viettel strikes big deals at international defence expo
Subsidiaries of Military Industry and Telecommunications Group (Viettel) signed a string of significant contracts with major global partners during the first two days of the Vietnam International Defence Expo 2024 in Hanoi.
Companies - Sat, December 21, 2024 | 5:36 pm GMT+7
Taiwan’s Wistron acquires 37ha land lot in northern Vietnam for expansion
Taiwan-headquartered Wistron, a top electronics provider and an Apple supplier, will further its investment in Vietnam’s northern province of Ha Nam by acquiring another 37.1-hectare land lot.
Companies - Sat, December 21, 2024 | 2:08 pm GMT+7
VAFIE seeks to promote sci-tech development, intellectual property policies
The Vietnam’s Association of Foreign Invested Enterprises (VAFIE) aims to enhance policies for the development of science, technology, and intellectual property, creating a more conducive investment environment.
Companies - Sat, December 21, 2024 | 1:59 pm GMT+7
Vietnamese dong likely to depreciate 3% in 2025: VinaCapital
The Vietnamese dong is likely to depreciate 3% in 2025 on anticipation that the US Dollar/DXY Index will finish 2025 nearly unchanged, says Michael Kokalari, chief economist at Vietnam's leading fund manager VinaCapital.
Economy - Sat, December 21, 2024 | 11:23 am GMT+7
First luxury railway journey across Vietnam features Indochine architecture
PYS Travel has launched the first luxury railway journey across Vietnam named Sjourney, marking a new milestone in the railway tourism sector.
Travel - Sat, December 21, 2024 | 10:09 am GMT+7
Vietnam among 40 most beautiful countries: US publication
Vietnam has secured the 36th position in the ranking of the 40 most beautiful countries in 2024 in a testament to its undeniable charm and appeal, according to US News & World Report.
Travel - Sat, December 21, 2024 | 10:04 am GMT+7
Foxconn to invest $16 mln more in Vietnam’s Quang Ninh province
Competition Team Technology (Vietnam) Company Limited, a subsidiary of Foxconn, will invest an extra $16 million in its “S- Vietnam” project in the northern coastal province of Quang Ninh.
Industries - Sat, December 21, 2024 | 9:53 am GMT+7