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Vietnam earned $2.6 billion from exports of textiles and garments in January 2021, up by 3.3 per cent year on year, according to the ministry of industry and trade, which recently said the textile production index and the apparel production index increased by 16.6 per cent and 9.9 per cent respectively during the month over the same period in 2020.

Vietnam’s garment sector will focus on new potential markets to achieve an average growth of 6 per cent each year between 2020 and 2025, according to Vietnam Textile and Apparel Association (VITAS) chairman Vu Duc Giang, who recently said the COVID-19 pandemic offered businesses a chance to step up digital transformation and produce masks in large quantities.
Vietnam’s textile and garment industry witnessed a fall in exports in the first four months of this year due to production-related difficulties arising out of the COVID-19 pandemic. In April, the figure fell by 20 per cent compared to that in March, Truong Van Cam, vice chairman of the Vietnam Textile and Apparel Association (VITAS), said.
Huntsman Textile Effects and Phong Phu International (PPJ) have announced a strategic partnership agreement that aims to promote PPJ’s growth in Vietnam as a leading manufacturer of sustainable, high-performance textiles and garments for many of the leading brands and retailers. Huntsman is a manufacturer of differentiated and specialty chemicals.
Indonesia and Australia Ratify IA-CEPA Agreement
On February 10, 2020, Indonesia and Australia ratified the Indonesia-Australia Comprehensive Economic Partnership Agreement. The agreement will see duty-free tariffs imposed on two-way trade and exchange of human resources for skills development. Australian companies will now be able to have majority ownership of businesses in specific sectors in Indonesia.
Trump Visit Concludes, Tentative US-India ‘Phase One’ Trade Deal Proposed
No long-term trade agreement was signed between US and India during President Trump’s India visit. However, during three MoUs and a defense deal was signed between the two countries. Talks for a free trade agreement between US and India are expected to start in the next few months.
China’s Belt & Road Initiative: Where We Are Now And What Is Arriving In 2020

Administrative, Legal, Tax & Free Trade Infrastructure Developments Point To Increasing Foreign Participation


China-Hong Kong DTA: Tax Residency, Permanent Establishment Requirements Amended
China and Hong Kong have signed the Fifth Protocol to their longstanding double tax avoidance agreement (DTA). Business entities as well as individuals holding dual residency should note that the Fifth Protocol revises several aspects of the DTA’s tax residency and permanent establishment provisions. The Fifth Protocol came into effect starting January 1, 2020 in mainland China and will be in effect from April 1, 2020 in Hong Kong. Companies and individuals must review their tax position in both jurisdictions to avoid being challenged by tax authorities.
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Copyright © 2025 Vietnam Textile & Apprel Association (VITAS)
Head Office : 15th Floor, Office Building, C1 Thanh Cong Building, Giang Vo Ward, Hanoi.
Phone : 84-24-39349608 / 39361167 / 39364134
Email : info@vietnamtextile.org.vn
Ho Chi Minh City Branch : 8th Floor 36 Phan Dang Luu, Gia Dinh Ward, HCM City.
Phone : 84-28-22411485 - Fax: 84-28-38233465

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