Duong Thuy Linh, Vice Secretary General and Head of External Relations of VCOSA delivered her report Vietnam textile and apparel industry operation status and investment environment

The report is divided into three parts.

1. Current Situation of Vietnam's Textile and Apparel Market

Ms. Duong Thuy Linh analyzed the current situation of Vietnam's textile and apparel market based on the data of the industry's performance and import-export activities from January to May 2023. The report highlights a decline in Vietnam's textile and apparel exports during the first five months of 2023 compared to the same period last year.

2. Operating Conditions of Vietnamese Textile Enterprises

Ms. Duong Thuy Linh further analyzed the labor scale and revenue of Vietnamese textile enterprises. The report indicates that the proportion of actively operating enterprises in 2023 is projected to decrease by 5% or more. The biggest challenges and difficulties faced by textile enterprises currently include a lack of orders and a lack of financing channels. In addition, the forecast for the second half of 2023 suggests unfavorable production and operational conditions, according to 82.3% of the surveyed enterprises.

3. Investment Environment in Vietnam's Textile Industry

Ms. Duong Thuy Linh emphasizes that Vietnam is an ideal destination for manufacturing diversification and ranks among the most promising countries. The report presents seven targeted solutions to achieve strategic goals and directions. Finally, she provides a comprehensive analysis of the investment environment in Vietnam's textile industry and discusses the advantages and disadvantages of investing in the textile, dyeing, and finishing sectors in Vietnam.