Textile

While Vietnam is on track to witness the strongest growth in ASEAN this year, a weakening job market is the biggest risk to its economic recovery.

This is the second FTA that the EU has ever made with a Southeast Asian country, after Singapore.

Vietnam would remain a prime candidate for gains over the near term, according to Fitch Solutions.

EVFTA provides a means of market diversification for EU and Vietnamese businesses.

Vietnam's exports slightly declined by 0.9% year-on-year to US$100.21 billion in the January-May period, and imports decreased 4.6% to US$96.67 billion.

Companies in the industry could lay off 30% of their employees in April and 50% in May due to the lack of orders.

The FDI sector posted exports of US$26.2 billion in the January – February period, up 5% year-on-year and accounting for 67% of Vietnam’s exports.

The Indian ambassador said both Indian and Vietnamese companies will find opportunities to support one another.

The disruption of materials supply chain from major markets to Vietnam has led to a lower growth rate of the industrial production index in the first two months.

In 2019, the industry is estimated to have exports of US$39 billion, up 7.55% year-on-year and around US$1 billion lower than the target of US$40 billion.