Search Results for: Vietnam

As intensifying international trade frictions highlight the need for Chinese textile companies to spread their risk by investing in production capacity within diverse global markets, Chinese textile companies are indeed expanding their global footprint. That includes downstream as well as upstream segments.…

A Financial Action Task Force (FATF) paper has warned that governments are failing to increase AML/CFT controls on virtual assets and virtual asset service providers (VASPs), with only 25% of those surveyed fully or largely compliant with FATF guidance (1).

Of these 130 jurisdictions assessed under the latest mutual evaluation reports and follow up checks, the 75% proportion of those partially or not compliant with FATF recommendation 15 on VASPs and other new tech, “is identical to that of April 2023…and shows negligible improvement,” said FATF.…

With Vietnam named the top exporter to the United States of products covered by the Uyghur Forced Labor Prevention Act in 2023, Vietnamese garment manufacturers that use undeclared Chinese cotton inputs are now risking being caught by isotopic testing. These can link cotton to specific geographic areas by analysing the concentration of stable elements like carbon and hydrogen present in both the crop and the environment in which it has been grown.…

Vietnam’s ministry of industry and trade (MOIT) has released a draft amendment to the country’s Law on Chemicals. The draft amendment stipulates that all chemicals, including paint and coating ingredients, must be declared when imported through Vietnam’s National Single Window Information Portal.…

The Chinese textile industry’s overseas investment has been on an upward trajectory since the Covid-19 pandemic, with a focus on countries involved in China’s Belt and Road Initiative, particularly in southeast Asia, but also further afield; the Chinese textile company Shanghai Jingqingrong Garment, for example, in January announced it will open its first production plant outside China in Catalonia, Spain (1).…

Modern technologies are paving the way for rapid advances in textile sector process efficiencies, where innovative solutions are cutting the amount of time, energy, labour and materials that typically go into garment production.

While many new systems are being rapidly adopted by an industry eager to reduce friction and boost margins, some of the most revolutionary solutions are still on the cusp of being widely adopted.…

A new FATF survey has suggested significant advances are being made in imposing AML/CFT on the use of virtual assets (VA) and on virtual asset service providers (VASPs), with 49 out of 58 countries surveyed establishing controls. The survey assessed all FATF members plus 20 jurisdictions with materially important VASP activity, including Russia, which remains suspended from FATF because of its ongoing invasion of Ukraine.…

As India goes to the polls over the next seven weeks leading to a new (or more likely renewed) government taking charge in early June, the country’s clothing and textile industry is foreseeing a continuity of policies albeit with investment promotion schemes being strengthened and more free trade agreements being struck.…

India is integrating its textile and apparel industry more closely to achieve faster growth and become a reliable alternative to China and other Asian sourcing hubs for garments, sector executives have said at a major conference this week. Industry leaders from worldwide gathered in the capital New Delhi for Bharat Tex 2024, from February 26 to 29, discussing key issues such as sustainability and transparency.…