Huatex Viet Nam Company Limited (Vietnam)

The subject specializes in manufacturing knitted fabrics, crocheted fabrics and other nonwovens. It is a member of the Huafeng group. The group has diversified portfolios of brand products, which have been used in a myriad of industries such as footwear & apparel, home textiles, electronics, household items and automobiles, etcRegarding the current situation of Vietnam's textile and garment industry, at the conference "Summary of Vietnam Textile and Apparel Association 2023", Mr. Vu Duc Giang, Chairman of Vietnam Textile and Apparel Association (Vitas), said that the textile and garment industry basically have had certain success, with export turnover reaching USD 40.3 billion in 2023. With lessons learned in 2023, by 2024 Vietnam's textile and garment industry strives to achieve an export turnover of USD 44 billion. However, the challenge for textiles and garments in 2024 is still huge when major importers all have more stringent sustainable and environmentally friendly mechanisms. On the other hand, world economic growth in the next 2 years depends on many factors, of which the focus is the conflict in the Middle East and the inflation control policies of some countries. Therefore, textile and garment enterprises need to have the necessary policies to adapt to new requirements.