There are still many positive factors for Vietnam's textile and garment industry in the coming period; therefore, businesses need to take advantage of these opportunities to soon achieve the export target of 47-48 billion USD.
Rapid Operation
According to Nguyen Ngoc Binh, General Director of Hoa Tho Textile and Garment Corporation, the US announcement of a 46% retaliatory tariff on Vietnamese goods on April 3rd immediately created a negative effect, with some customers announcing cancellations or suspensions of orders, causing production to slow down. However, after the announcement of a temporary postponement... tax The 90-day deadline was announced on April 10th, and the market immediately recovered, with customers urgently requesting short delivery times. Faced with this situation, the company was forced to monitor and adjust its daily production plan. Currently, the company is mobilizing all resources to boost production and complete orders before July in order to deliver them to customers as soon as possible, thereby gradually achieving its revenue target. profit According to plan.
In May 2025, Vietnam's textile and garment industry continued to record positive signs with export turnover reaching US$3.84 billion, a 6% increase compared to the same period in 2024. This is the highest export level ever recorded in May, surpassing even May 2022, a period of exceptional growth due to the "overbuying" phenomenon following the Covid-19 pandemic. This brings the total export turnover of the industry to US$17.8 billion, a 10% increase compared to the same period in 2024, equivalent to an absolute increase of US$1.6 billion. market share In terms of exports, the US continued to be the largest export market in the past five months with a turnover of $6.97 billion, an increase of 17%; followed by the European Union (EU) with $1.86 billion, an increase of 15%; Japan with $1.83 billion, an increase of 11% compared to the same period,…
According to Le Tien Truong, Chairman of the Board of Directors of Vietnam Textile and Garment Group (Vinatex), despite continuous market fluctuations, the group has maintained its growth momentum from the second half of 2024 to the present thanks to proactive and flexible management. Facing unpredictable developments in tariff policies, the group has directed garment businesses throughout its system to implement a "90-day rapid work campaign," effectively utilizing signed orders and striving to meet the second-quarter orders within 90 days (before July 5, 2025). The group has also tasked its garment production and business departments with researching the supply chain of raw materials and accessories, prioritizing the use of fabrics from businesses within the system if they meet quality requirements, and supporting businesses in classifying each item and market at risk of being affected by new tariff policies to provide a basis for negotiations with customers and find suitable directions for the future.
For the yarn industry, the market remains sluggish but has improved compared to 2024. The yarn system has been profitable in the first six months of the year, albeit at a low level. Many units have maintained stable profits for the past eight consecutive months, such as Vinatex Phu Hung, Phu Bai Yarn, and the yarn sector of Hoa Tho Textile and Garment Corporation, etc. The Group's consolidated revenue in the past six months reached VND 9,035 billion, equivalent to 49% of the annual plan; profit reached nearly VND 556 billion, equivalent to 61% of the annual plan and 197% compared to the same period in 2024.
“With the trend of larger, longer-term orders and acceptable unit prices over the past six months, businesses have been able to proactively plan production, leading to high efficiency. Normally, the first half of the year only accounts for 40% of the year's profit due to extended holidays and Tet (Lunar New Year), and during this period, the entire industry mainly focuses on low-value summer goods. However, this year's context is quite unique, as the efficiency achieved in the past six months has already equaled that of the second half of the year, with efficiency per mobilized working day increasing by approximately 16% compared to the second half of 2024,” Mr. Truong affirmed.
Creating unique value
Regarding the market outlook for the remaining months of the year, Mr. Truong stated that businesses have secured enough orders to cover production until August and September and are actively negotiating for the following months. Both customers and manufacturers have agreed on a suitable price, subject to a specific determination of export tariffs to the US. Once a concrete decision on tariffs is made, the parties will meet again to negotiate the final price. Furthermore, the unpredictable nature of the market, particularly geopolitical instability and trade wars in some countries around the world, requires businesses to closely monitor developments and implement flexible response strategies to boost production and optimize operational efficiency.
Sharing more about the difficulties the company is facing, General Director of Hoa Tho Textile and Garment Corporation, Nguyen Ngoc Binh, said that new orders from US customers for August onwards have been very slow, and in some cases, have stopped completely. The main reason is that customers need to monitor and reassess the situation regarding purchasing, consumption, inventory, and the impact of new tax policies. Many customers have reduced the quantity of orders compared to what was expected or negotiated for significantly reduced prices, including for CM (manufacturing) and FOB (buying raw materials, producing, and selling finished products) goods. Some customers have decided to shift orders to factories in Bangladesh or maintain production in China.
According to Nguyen Thi Phuong Thao, CEO of May 10 Corporation, market signals in the last months of the year are not yet truly favorable, especially for shirts. Based on customer feedback, due to consumers having already purchased a lot earlier because of concerns about price increases, consumer demand in the third and fourth quarters is expected to decrease by 10% to 20%. Furthermore, the unpredictable market conditions require businesses to be flexible in their response strategies. Currently, May 10 is proactively seeking and expanding its raw material supply sources through connections with member units within the group, as well as some businesses in India and Taiwan (China)... In addition, it is actively implementing solutions to diversify product designs, markets, and customers, thereby boosting production and business, and achieving its set targets sooner.
Source: https://baoquangninh.vn/giu-nhip-xuat-khau-det-may-3364112.html
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