In the first two months of 2024, Vietnam’s textile and garment exports surged by 15 per cent Y-o-Y to $5.2 billion, indicating the industry’s pivotal shift towards green production practices to meet the discerning standards of import markets. As reported by the General Statistics Office, this sector secured the fourth position among top foreign currency earners during this period.
Than Duc Viet, General Director, Garment 10 Corporation, says, it has become mandatory for manufacturers to embrace green production methodologies to ensure sustainable exports. Over the past three years, his company has embarked on a transformative journey, updating machinery with energy-efficient alternatives, implementing rooftop solar power systems, and forging partnerships to incorporate recycled and natural materials into their processes. Moreover, efforts to mitigate carbon emissions, such as substituting coal-derived inputs with biomass alternatives, have been central to their eco-friendly agenda. Viet anticipates that upon the full implementation of their initiatives in 2024, Garment 10's operations will reduce carbon emissions by over 20,000 tons.
The global fashion landscape is witnessing a paradigm shift, with major brands pledging to adopt recycled, natural, and circular materials by 2050. Consequently, international purchasers are recalibrating their supply chains to align with sustainability objectives. According to Prof Dr Andreas Stoffers, Country Director, Friedrich Naumann Foundation for Freedom in Vietnam, the European Union (EU) stands as a pivotal export market for Vietnam's textile and garment industry.
However, the EU views this sector as a significant contributor to environmental degradation, prompting stringent green measures.
Economist Dinh Trong Thinh underscores the challenges faced by small and medium-sized enterprises (SMEs) in adopting costly and time-intensive green standards. To address this, Thinh advocates for governmental support through favorable credit policies to incentivise green investment and production, he adds.
