2020-12-10
In recent years, Vietnam's textile industry has developed rapidly. In 2018, Vietnam has become the world's third largest textile export country after China and India. However, in 2019, although Vietnam's textile exports increased, they were only $39 billion, which failed to reach the target of $40 billion that year. This year, due to the impact of the epidemic, Vietnam's textile industry continues to face problems, and it is estimated that the annual target of US $42.5 billion will not be achieved. At this time, Vietnam, which relies on Chinese raw materials, made unexpected moves in textile raw materials to China.
Latest: 60% of Vietnam's textile raw materials relying on China launched an investigation. What's the situation?
According to the recent decision No. 1079 / qd-bct issued by the Ministry of industry and trade of Vietnam, Vietnam will launch an investigation into some polyester long fiber (also known as filament yarn) as textile raw materials from China, India, Indonesia and Malaysia. The survey was mainly initiated by Vietnam's leading player in the industry.
It is understood that although the industry leader accounts for 67.4% of Vietnam's total polyester long fiber output, it still competes with similar products from China, India and other countries. Therefore, the company hopes to reduce the competitive advantage from other markets such as China through investigation, and finally achieve the goal of developing in Vietnam.
Although Vietnam can produce 350000 tons of