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| Illustrative photo (Source: VOV) |
The majority of garment companies of the Vietnam Textile and Garment Group have enough orders until the end of the year and are currently negotiating orders for early 2025. The first half of this year saw apparel exports fetch roughly US$16 billion, marking an increase of US$3.1 billion compared to the same period from last year.
Cao Huu Hieu, general director of the Vietnam Textile Group (Vinatex), commented that this year's textile and garment picture has brighter prospects compared to 2023. However, unit prices generally remain low as many product codes dropped by 20% and some product codes were even reduced by up to 50% compared to the pre-COVID epidemic period as a new price level has been established since 2023.
"Despite facing unpredictable market developments, especially geopolitical conflicts in many regions, based on the available results, order signals of the garment, yarn, textile and dyeing industries, the export turnover of Vietnam's textile and garment industry is expected to increase by 8% to 10% compared to 2023. With positive signs of growth in the first half of the year, production and business results will be better in the final months of the year,” Hieu said.
Currently, many Vietnamese textile and garment enterprises have proactively improved production capacity, skills, and shifted production from only processing to autonomy in raw material sources, self-design, and completion of products.
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| Illustrative photo (Source: vneconomy.vn) |
Enterprises tend to make the most of opportunities from markets, identifying products with difficult techniques instead of cheap, difficult-to-competitive popular products.
They also regularly monitor, update, and forecast market information; develop potential scenarios; and devise appropriate plans specifically for production and business activities.
According to details given by Vu Duc Giang, chairman of the Vietnam Textile and Apparel Association (Vitas), to participate in the supply chain, textile and garment enterprises need to change production strategies through process improvement, machinery and equipment innovation, technology application, and automation of production stages.
Apart from cutting costs and production time, local businesses must also focus on choosing environmentally friendly and recyclable materials in line with the circular economy trend.
In particular, greening and sustainable development can be viewed as competitive criteria that major markets such as the United States, the EU, and Japan all require from suppliers. This is in addition to price factor, product quality, and delivery time.
Work on expansion of LG Innotek's Hai Phong factory on right track
A working delegation led by Head of the Hai Phong Economic Zone Authority (HEZA) Le Trung Kien on July 15 inspected the progress of the LG Innotek Hai Phong factory project - Phase III in the northern port city's Trang Due Industrial Park, reported Vietnam News Agency.
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| A working delegation of Hai Phong Economic Zone Authority inspect the progress of the LG Innotek Hai Phong factory project -Phase III in Trang Due industrial park. (Photo: haiphong.gov.vn) |
Park Young-chan, General Director of Zeit C&A Vietnam Co., Ltd. and site director of the project - Phase III, said that about 1,500 workers are working continuously at the site, properly satisfying regulations on labour safety and fire prevention and control.
As of July 15, about 75% of the workload had been completed as scheduled, he said.
In June last year, LG Innotek Hai Phong and the municipal People’s Committee signed a Memorandum of Understanding on expanding investment and production at the factory.
On June 26, 2023, the committee presented a certificate to LG Innotek approving its capital adjustment for 2023-2025 by 1 billion USD, raising its total investment to over 2 billion USD.
Kien said the factory expansion will help Hai Phong become a destination of success for investors.
In the first half of this year, the city's Gross Regional Domestic Product (GRDP) rose by 10.32% compared to the same period last year, ranking 5th among 63 provinces and centrally-run cities nationwide, second in the Red River Delta and first among centrally-run cities.
So far this year, Hai Phong has attracted over 1.55 billion USD, making up 77.58% of the yearly target.
With a total of 183 projects worth 11.5 billion USD, the Republic of Korea (RoK) ranks first among 39 countries and territories investing in the city.
All Vietnamese students win prizes at mathematics contest in Malaysia
All 34 local students attending the World Mathematics Invitational (WMI) 2024 competition in Malaysia claimed awards at the competition, including two diamond, four gold, 12 silver, five bronze, and 11 consolation prizes, reported the Voice of Vietnam.
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| All 34 local students claim awards at the World Mathematics Invitational 2024 (Photo: giaoducthoidai.vn) |
Of the winners, fifth grade student Tran Lam Dao of Kim Lien Primary School won a special cup “The Star of the World” which was given to the diamond prize winner with the highest score.
The five-day event running to July 16 and witnessed the participation of 1,800 candidates from 22 countries and territories worldwide.
The Vietnamese candidates mainly come from primary and secondary schools in Hoan Kiem district of Hanoi.
The WMI was initiated in 2013 by Kun-Lung Tsai, chairman of the Chinese Mathematics Association, and Prof. Quan Lam of the University of California in Berkeley in the United States.
The annual competition aims to promote the study of mathematics in schools and organisations around the world, while also providing a venue for students to enhance culture exchanges and share experience in learning mathematics.
Vietnamese sweet and sour soup listed among world’s Top 57 fish soups
Vietnamese sweet and sour soup, known locally as Canh Chua Cá, has been placed in eighth position in a list of the Top 57 fish soups in the world, as compiled by international food website TasteAtlas, reported the Voice of Vietnam.
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| Illustrative photo (Source: VOV) |
The term Canh Chua Cá encompasses various fish-based Vietnamese soups which are characterised by their combination of sweet, spicy, and sour tastes. The soups are usually made using a tamarind-based broth and typically include chunks of pineapple, tomatoes, okra, bean sprouts, or other vegetables, the website wrote.
Most varieties are prepared using catfish, although some versions also include carp, snakehead fish, eels, or salmon. These soups are usually topped with cilantro before then being served with rice on the side, according to details given by food website TasteAtlas.
Other local dishes to make the list include sweet and sour tamarind soup, known locally as Canh Chua, ranking 19th globally; and ca linh fish and river hemp flower hot pot, known as Lẩu Cá Linh Bông Diên Diển, which came in at 53rd. Both delicacies are from the Mekong Delta region.
Topping the list is Lohikeitto, a creamy Finish salmon soup which traditionally incorporates diced potatoes and carrots before then being cooked in a flavourful, buttery broth which is infused with fish stock and cream.
Rounding off the list of TasteAtlas’s Top 57 fish soups worldwide were many representatives from around the Asian region, including Assam Laksa and Penang Laksa of Malaysia, Tekwan of Indonesia, Fish Soup Bee Hoon of Singapore, Mohinga of Myanmar, Chueotang of the Republic of Korea, and Shark Fin Soup of China.
TasteAtlas is an encyclopedia of flavours which serves as a world atlas showcasing traditional dishes, local ingredients, and authentic restaurants. The website has cataloged over 10,000 foods and drinks from across the world, although thousands of cuisines have yet to be researched and mapped./.