Ha Phong Export Garment Joint Stock Company (Vietnam)

Established in 2006, SC is one of the large garment companies in Bac Giang province. It imports machines and materials for production from China, South Korea, Taiwan, Hong Kong, India. The subject's products are exported to many countries in the world. The USA is main export market of the subject. According to preliminary calculations of the Vietnam Textile and Apparel Association (Vitas), the total export turnover of Vietnam's textiles and garments in the first five months of 2023 is estimated at USD 14.422 billion, down 21,42% over the same period in 2022. It is forecasted that in the remaining months of 2023, the textile and fashion market will still face many difficulties. Total world textile and garment demand is forecasted to reach about USD 700 billion in 2023, down 8% compared to 2022, lower than the whole year of 2020 when the Covid-19 epidemic occurred. In addition, there are strict requirements from brands such as reduced production costs, small orders, fast delivery times, higher quality requirements, conversion of fabrics with recycled fibers, etc. With this situation, the subject may face many challenges in the near future.