Việt Nam had become increasingly appealing to large foreign investor groups in the textile and garment industry who wanted to seize opportunities before the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) takes effect in January next year, according to analysts.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreement is expected to aid Việt Nam’s exports, especially textiles and footwear industries, when it takes effect, according to experts.

The Việt Nam Sport Show 2018 kicked off in Hà Nội on Thursday, featuring over 5,000 products from 120 domestic and foreign exhibitors.

A project to make the textile industry more environment-friendly has been launched in Hà Nội by the World Wide Fund for Nature and the Việt Nam Textile and Apparel Association.

Vietnamese garment and textile enterprises are losing their competiveness due to high costs of logistics services for exports, experts have said. 

The rest of this year is likely to be a difficult period for the economy meaning challenges for the Government in achieving the targets set for the year.

The third edition of the Denimsandjeans.com Việt Nam Show opened in HCM City on June 27 with over 100 garment enterprises from 11 countries taking part.

The third edition of Denimsandjeans.com Vietnam Show will take place at Riverside Palace, HCM City, from June 27 to July 18.

The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Việt Nam Textile and Apparel Association (VITAS).

Việt Nam’s turnover from textiles and garment exports to Australia is predicted to reach a double-digit growth after the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).