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Vietnam Spinning Industries’ Competitiveness is Increasing ,The cotton yarn spinning enterprises’ competitiveness in international market is increasing
"Vietnam Economic Times" reported on August 28: Vietnamese textile association president Wu Dejiang said that at present, the existing Vietnamese enterprises are around 800, due to most companies use advanced spinning equipment, and the high-quality lint supplement is sufficient, the spinning enterprises, especially the cotton yarn spinning enterprises’ competitiveness in international market is increasing, that their cotton yarn products have entered many markets, and some factory in Dong Nai province order production plan has scheduled till the year end.
In recent 2 years, the invested spinning factories’ automation degrees are high, which significantly saved the labor costs.
In the first half of this year, Vietnam has exported 1.8 billion US dollars of cotton yarn, and the total cotton yarn exports this year are expected to more than 3 billion US dollars, mainly exporting to China, Taiwan, the Middle East and other countries and regions.