Leather and footwear exports will reach over US$22 billion this year, as Vietnam is expected to overtake China as America’s number one supplier in these sectors.
Viet Nam wants to work with China to boost export growth, creating a stable market for agriculture products, said Minister of Industry and Trade (MoIT) Tran Tuan Anh.
An programme of International Finance Corporation (IFC) has enabled Vietnamese apparel and textile suppliers to save US$30 million a year by improving their resource efficiency and reduce operating costs.
A conference was held in HCM City on Thursday to discuss the growing opportunities for the city’s industrial sector, especially supporting industries.
Viet Nam is likely to reach its export turnover target of US$11 billion from wood and forestry products this year as the main season for business is in the last six months of the year, according to an official of the Viet Nam Timber and Forest Product Association.
As part of ongoing efforts to integrate local firms with global value chains, a sourcing fair for supporting industries and buyers, launched in HCMC on September 11, attracted some 25 foreign direct investment (FDI) enterprises and 70 supporting industry firms seeking cooperation opportunities.
A joint-venture between Hong Kong-based Lee & Man and Japanese Hokuetsu groups has proposed to develop a large-scale complex, expected to cost US$3 billion, in central Ha Tinh Province’s Vung Ang Economic Zone (EZ) during a working session with local authorities on Tuesday.
Vietnam’s trade surplus in August widened dramatically from July, backed by a strong increase in smartphone shipments, as its surplus with the United States continued to increase, government data released on Wednesday showed.
The Sourcing Fair for Supporting Industry with Buyers that opened in HCM City on Wednesday seeks to enhance supply chain linkages in supporting industries, enhance direct connections between foreign and other manufacturing firms and Vietnamese parts suppliers.