The EIU’s prognosis was spurred by Vietnam’s rational inflation rate level. The EIU said that a reduction of inflationary pressure will create favourable conditions for Vietnam to carry out numerous monetary and financial policies. In addition, Vietnam will see vibrant investment activities in the year. Additional capital flow will pour into the country thanks to the various free trade agreements (FTAs) negotiated throughout 2015, according to the EIU. The EIU also predicted that the South

Export performance of the textile sector is lagging behind plan during the 2015/16 fiscal year first half year. This is found at the cotton development and textile industry performance evaluation, the Ethiopian Textile Industry Development Institute (ETIDI) announced that the export of textile has reached 41.1 million USD against the nation’s plan to obtain some 60.07 million USD. Only 70 percent of the plan has been achieved. Institute Plan and Information Management Director Abebe Kasse sai

In order to help exporters upgrade factories and boost investments, government of Bangladesh is set to revive the option of reduced corporate tax rate for the garment sector. From fiscal year 2005-06 till 2013-14, the sector paid corporate tax at a reduced rate of 10 percent. However, this provision was expired on 1st July, 2014 and the government did not extend it again, meaning the sector paid tax at the 35 percent rate in fiscal 2014-15. Siddiqur Rahman, president of the Bangladesh G

The Federal Government of Nigeria has been urged to ban import of foreign fabrics to revive the nation’s ailing textile mills. According to Alhaji Sani Muhammad, the Administrative Secretary of Zamfara Textile Industry located in Gusau, importation of textile materials had led to the collapse of the nation’s textile sector. Muhammad lamented that Zamfara Textile, established in 1965, had layed off over 2, 500 workers in 2004. It is unfortunate that the industry is not able to come back fully.

Economic incentives for a growing textile company that has added 15 jobs in the past two years and expects to add at least 15 more jobs in another year were approved Monday night by the Columbus County Commissioners. Shodja Textiles, doing business as Whiteville Textiles, will receive incentives totaling more than $41,000 over the next five years based on an investment of more than $1.5 million in building renovations. The Company is in business since 2000, makes high-end fabrics used in t

The trade estimates cotton production at around 33 million bales (170 kg each) for the October 2015-September 2016 crop year against 38 million bales in the previous year. The Cotton Advisory Board anticipating lower output in its first estimate in November, forecast output at 36.5 million bales. The agriculture ministry had in September forecast cotton output at 33.51 million bales. Due to a decline in yield of the standing crop in north India, cotton production is likely to decline by over

Vietnamese textile and garment companies face a huge challenge with the market set to be flooded with imports following the country's accession to the ASEAN Economic Community (AEC) and Trans-Pacific Partnership (TPP) treaty. "I realise that customers will support domestic goods, but the most important factor to retain Vietnamese clients is to assure quality," Nguyen Thi Dien, chairwoman and executive director of the An Phuoc Shoes Sewing and Embroidering Company, has been quoted as saying on

Zhejiang province, home to about 50 per cent of textile dyeing industry in China, may shut down for few days during the G20 summit to be held later this year in Hangzhou, say Chinese media reports. Zhejiang falls within the 300 kilometres radius of Hangzhou, where G20 summit is scheduled to be held on September 4-5, 2016. The G20 countries account for 90 per cent of world GDP and 80 per cent of world trade. Though it is too early to conclude whether there will be a government order to shut

ASEAN garment products likely to flood the Vietnamese market and directly compete with domestic products following the country’s accession to the ASEAN Economic Community (AEC) and Trans Pacific Partnership (TPP) treaty due to which Vietnamese textile and garment companies might face a huge challenge. According to Nguyen Thi Dien, chairwoman and executive director of the An Phuoc Shoes Sewing and Embroidering Company, the customers will support domestic goods but the most important factor to

THE US economy struggled to grow in the October-December quarter as consumer spending, business investment and exports slowed. Yet despite global weakness and shrunken oil and stock prices, many economists expect growth to accelerate on the strength of healthy job gains. The economy grew at an annual rate of just 0.7 percent last quarter, less than half the 2 percent growth rate in the July-September period, the government said on Friday. It was the worst showing since a severe winter slowed