Garment

The two-year project will start in January 2022.

Preferential treatments from the EU-Vietnam Free Trade Agreement (EVFTA) have been best utilized by Vietnamese enterprises among trade deals of which the country is a party.

Testing and vaccination for workers are headaches of enterprises at the moment.

Potential disruption of supply chains as a result of the pandemic is making it hard for local enterprises to fulfill their contractual obligation to partners.

Given the unpredictable nature of the pandemic, textile firms have failed to develop concrete plans for production accordingly.

Eight business sectors, including hospitality services, retail, garment, car manufacturing, agriculture, logistics, aviation, and IT are facing an unprecedented crisis.

Despite Covid-19 impacts, Vietnam’s trade turnover with the Americas rose by 16% year-on-year in 2020 to US$111.5 billion.

Symbiosis is seen as an important link facilitating the cooperation between local and foreign direct investment firms in Vietnam.

Among US’ leading suppliers of textile and apparel, China continues to lose its market share (33% in 2019 to 28% in 2020) while Vietnam is the largest gainer (13% to 15%).

In total, Vietnamese enterprises exported over 1.3 billion medical face masks in the first 11 months of 2020.