Fierce competitive pressure, especially trade tensions between economic powers, have had a significant impact on the export of many Vietnamese products.
Faced with global economic fluctuations, textile and garment enterprises are stepping up marketing activities, connecting with partners to speed up orders, while focusing on developing new markets and minimizing future risks.
Finding opportunity in risk
In 2024, textile and garment export turnover will reach about 43.5 billion USD, making Vietnam the second largest in the world , after China. However, increasing trade protection policies from many countries may impact Vietnam's textile and garment industry.
Mr. Le Tien Truong, Chairman of the Board of Directors of Vietnam National Textile and Garment Group (Vinatex), said that the temporary reciprocal tax policy of the United States will have an impact on Vietnam's textile and garment exports, although US inventories are low, so orders in the third quarter of 2025 may still be good, but the fourth quarter of 2025 will decrease due to the decline in demand for garments in this market.
“Although the market is still volatile, current tariff negotiation policies are being implemented by product groups, so there may be opportunities for Vietnamese textile and garment products,” said Mr. Le Tien Truong.
Statistics show that the US market accounts for about 35-40% of Vietnam's textile and garment export turnover, but to minimize risks, many businesses are focusing on developing potential customers.
Ms. Nguyen Hong Lien, General Director of Hue Textile and Garment Joint Stock Company, informed that the production situation and delivery schedule have also been affected by many fluctuations since the US tax announcement. Initially, some customers temporarily suspended their orders, then requested to speed up the progress when the tax was applied at 10% for 90 days. However, according to current calculations, most of the orders for April, May, and June are still being implemented on schedule according to the original plan.
Regarding orders for the third and fourth quarters, Hue Textile and Garment has filled its July orders. However, there is a possibility of competition due to increasingly stringent assessment requirements, especially criteria on social responsibility, security and quality management systems.
“Hue Textile and Garment continues to receive more FOB orders (proactively source materials, complete products) in the third quarter. For fabrics imported from China, suppliers have agreed to share raw material prices, reducing by 25-27% to retain customers and support them through the difficult period if tariffs are imposed. Customers believe that orders in the fourth quarter may decrease compared to the same period last year depending on the segment,” said Ms. Nguyen Hong Lien.
Meanwhile, at May Hung Yen, the company has received a number of requests from partners. For Korean customers, although the order is not large, the unit still has to negotiate a slight discount, expected to share about 1%.
Ms. Pham Thi Phuong Hoa, General Director of Hung Yen Garment Corporation, said that the company has planned to produce continuously until mid-August and is continuing to discuss to receive more orders, but forecasting that in the US market, Hung Yen Garment believes that demand will continue to decrease slightly.
“From now until the end of July, especially in June and early July, the production situation at Hung Yen Garment is quite tense. The reason is that customers require on-time delivery and do not accept delays like in previous years. Delayed delivery poses many risks in terms of transportation and time, so during this time, the entire production system is having to concentrate highly to complete orders,” added a representative of Hung Yen Garment.
Exploiting competitive advantage
According to Vinatex's report, Vietnam's textile and garment exports in April 2025 reached 3.64 billion USD, up 15% over the same period. Accumulated to the first 4 months of 2025, the export turnover of this item reached 13.9 billion USD, up 11% over the same period.
In addition to the US market, some key export markets such as Japan and Europe have seen growth, so businesses are also stepping up negotiations with partners to promote exports to these markets.
Mr. Nguyen Hung Quy, General Director of Southern Textile and Garment Corporation (VSC), said that up to now, VSC has received enough orders to produce until the end of August. In response to developments related to export tariffs to the US, VSC has proactively developed other markets such as Europe and the UK. The proportion of orders from these markets in the last months of the year has increased significantly compared to the beginning of the year.
“Regarding market assessment, we assess that if the negotiated reciprocal tax rate increases by 15-20%, it will still be an acceptable threshold for the Vietnamese market. We also recommend transparency in the certification of origin,” said a VSC representative.
Ms. Nguyen Thi Phuong Thao, CEO of May10 Corporation, said that currently, May10's orders are full until the end of July, some types of jackets are due by the end of August, some other items are due by the end of the year. For orders placed in early July, customers have requested to speed up the delivery schedule, leading to great pressure on production. May10 has to organize production flexibly and work overtime to meet the demand.
“Currently, May10 is proactively seeking and expanding its raw material supply through connections with member units in Vinatex, as well as a number of businesses in India and Taiwan (China)…,” said a representative of May10.
According to Mr. Pham Tien Lam, General Director of Duc Giang Corporation, along with taking advantage of working time to export goods within the 90-day period of the US tax deferral, Duc Giang is targeting some potential markets such as Australia and Japan, and recently there have been positive signals from the Chinese market.
“In the US market, textiles need to find ways to avoid customers withdrawing or reducing orders, and to maintain stable production without being under too much pressure, especially pressure on prices. Therefore, the right direction is to focus on customers and brands with high added value, which is also in line with Duc Giang's capacity and strengths. The company has remained stable until the end of July and is currently continuing to receive more orders for August and September,” said Mr. Pham Tien Lam./.
Source: https://baoquangninh.vn/chuyen-minh-trong-bien-dong-toan-cau-det-may-viet-nam-day-manh-thi-truong-moi-3361145.html
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