|
Item |
Price |
Unit |
Fluctuation |
|
PSF |
1151.05 |
USD/Ton |
0% |
|
VSF |
2155.16 |
USD/Ton |
0.15% |
|
ASF |
2510.28 |
USD/Ton |
0% |
|
Polyester POY |
1126.56 |
USD/Ton |
-0.72% |
|
Nylon FDY |
2906.21 |
USD/Ton |
-0.56% |
|
40D Spandex |
6040.99 |
USD/Ton |
-1.33% |
|
Nylon DTY |
2710.28 |
USD/Ton |
-0.60% |
|
Viscose Long Filament |
2706.20 |
USD/Ton |
0% |
|
Polyester DTY |
1355.14 |
USD/Ton |
-0.60% |
|
Nylon POY |
3183.77 |
USD/Ton |
0% |
|
Acrylic Top 3D |
6032.83 |
USD/Ton |
0% |
|
Polyester FDY |
1404.12 |
USD/Ton |
-0.23% |
|
30S Spun Rayon Yarn |
2759.26 |
USD/Ton |
0.60% |
|
32S Polyester Yarn |
1861.28 |
USD/Ton |
-0.87% |
|
45S T/C Yarn |
2938.86 |
USD/Ton |
0% |
|
45S Polyester Yarn |
2906.21 |
USD/Ton |
0% |
|
T/C Yarn 65/35 32S |
2677.63 |
USD/Ton |
0% |
|
40S Rayon Yarn |
2040.88 |
USD/Ton |
0% |
|
T/R Yarn 65/35 32S |
2481.70 |
USD/Ton |
0% |
|
10S Denim Fabric |
1.14 |
USD/Meter |
0% |
|
32S Twill Fabric |
0.96 |
USD/Meter |
0% |
|
40S Combed Poplin |
1.06 |
USD/Meter |
0% |
|
30S Rayon Fabric |
0.77 |
USD/Meter |
0% |
|
45S T/C Fabric |
0.78 |
USD/Meter |
0% |
Source: Global Textiles
Note: The above prices are Chinese Price (1 CNY = 0.16327 USD dtd. 26/07/2015)
The prices given above are as quoted from Global Textiles.com. SRTEPC is not responsible for the correctness of the same.
The Union Finance Ministry has clarified that the exemption from excise duty for textile goods mentioned in the CENVAT Rules 2004 would stand. This follows a representation from textile goods manufacturers that a July 17 notification has stated that the excise duty credit could be claimed by the producers of end products only if the previous links in the production chain had paid the duty for the inputs at each of the stages, which created confusion, as production chain remained scattered. A delegation from Tirupur led by Raja M. Shanmugam, the State council member of Confederation of Indian Industry, and an exporter, met Finance Ministry officials and explained the predicament of the industry. The officials gave told them that the July 17 notification was intended to address the lacunae arisen after a Supreme Court order with regard to countervailing duty (CVD) imposed on the import of goods, said S, Dhananjayan, a chartered accountant, who was part of the delegation.
SOURCE: The Hindu
The Handlooms and Textiles Department of Tamil Nadu is studying the textile policies of various other states like Maharashtra, Gujarat and Madhya Pradesh and evaluating the financial and legal aspects before coming up with a new textile policy in the next few days to entice more investments ahead of the Global Investors Meet. The Ministers concerned and representatives from the textile sector had a meeting in which requests were made to have a policy on a par with recent trends in the sector. Sources who attended the meeting said that the revised policy could come before the commencement of the Global Investor Meet scheduled for September 9 and 10. As part of the GIM, 12 focus sectors have been identified, one of which is the textiles and apparels sector. Minister for Handlooms and Textiles S. Gokula Indira said that the government was planning to introduce suitable tax concessions and the single window system for the approval of the investment proposals.
According to official data, the textile industry in Tamil Nadu accounts for 17 percent of the total invested capital in all the industries. Tamil Nadu is one of the leading States in the textile sector and it houses the country’s largest spinning industry accounting for almost 80 percent of the total installed capacity in India. The State contributes 40 percent of the total yarn production in the country. There are 2,614 Hand Processing Units (25 percent of total units in the country) and 985 Power Processing Units (40 percent of total units in the country) in Tamil Nadu.
SOURCE: The CCF Group
Fall in global demand, dip in oil prices and appreciation of rupee against euro are some of the main reasons for decline in India's exports, Parliament was informed. Contracting for the seventh month in a row, India's exports dipped by 15.82 per cent in June to $22.28 billion. The main reasons for the decline are "fall in global demand and fall in commodity prices, impacting terms of trade for commodity exporters", Commerce and Industry Minister Nirmala Sitharaman said in a written reply to the Lok Sabha. Fall in crude oil prices has resulted in consequent decline in prices as well as export realisations for petroleum products. They are major product items of exports for India, she said, adding that fall in demand of precious goods like pearls, precious and semi-precious stones, especially from oil producing countries is also one of the main reasons. "EU countries that account for nearly 16 per cent of India's exports are facing problems of stagnation and deflation. The appreciation of the rupee against the euro has adversely impacted India's exports to EU countries," she said.
Trade deficit as a percentage of GDP has declined from 10.7 per cent in 2012-13 to 7.9 per cent in 2013-14 and 7 per cent in 2014-15, she said. The minister informed that the maximum export was from Maharashtra (23.47 per cent of the country's total exports in 2014-15) followed by Gujarat (19.2 per cent), Tamil Nadu (8.85 per cent) and Karnataka (7.61 per cent). India's share in world trade as per WTO is 2.06 per cent in the last fiscal. The minister said the government is continuously monitoring the export performance of different sectors to different countries and takes need based measures from time to time.
SOURCE: The Economic Times
The Department of Industrial Policy and Promotion (DIPP) is expected to come out with the ranking of states on ‘ease of doing business’ in the month of August and this competitive method of ranking of the states would “dramatically” change the country’s approach to attract investors by creating more business-friendly environment, a top central government official said on Saturday. “We are trying to build a spirit of competition on ease of doing business among the states. States are now competing among themselves to attract investors to their states. This is a positive sign. Investors must know which are the best and worst performing states,” said DIPP secretary Amitabh Kant. Amitabh Kant said his department had received responses from all the state governments and a study was currently on to evaluate and rank the business-friendliness of the states. “All the states have given us formal reports on what actions have been taken by them for ease of doing business,” he said.
SOURCE: The Financial Express
The GST Committee has ironed out every difference in the GST Bill. “The Government should therefore be able to pass it in this session of Parliament if it comes to working,” Nirmala Sitharaman, Union Minister of State for Commerce and Industry said. Stating that the committee formed to iron out the differences has done a detailed thrashing of the various processes, she said, “the GST bill itself, prior to the GST Bill per se needs a constitution amendment. The first step therefore is constitution amendment and then the Bill; post this, it will be the laying of rules. At this stage, every difference has been ironed out by the committee.” Coming down heavily on the opposition for not allowing conduct of the Parliament session, she said “We have, from day one, been ready to discuss issues. But of course, in the Rajya Sabha, we want to discuss issues related to states, but it is not done, ever. As things stand, Parliament does not normally discuss issues related to states.” Sitharaman was in the city at the International Business Conference of Nagarathars (IBCN) 2015 organised by Nagarathar Entrepreneurs Union. She said that discussions were on with regard to Free Trade Agreements with Australia, Canada and the EU including Eurasian countries which have not come within the ambit of free trade yet, but prior to free trade.
A group has been formed to assess how best we can go with Latin American countries, particularly Peru, she said, adding “discussions on RCEP (Regional Comprehensive Economic Partnership) with ASEAN are also on.” To a query on Rahul Gandhi’s visit, Ms Sitharaman said “if he is really worried about farmers, I will challenge him to go to Karnataka, the Congress ruled states. It is not too far away from TN or from Anantapur and Rayalseema region. The maximum number of farmer suicides has happened in Karnataka in the last two months.” Recalling his visit to Orissa (during the UPA rule), and his assertion then that he would work as a Sipahi to protect the interest of the tribals, she asked “what happened subsequently? What was the fallout of that interest, the land acquisition bill? Which tribal interest has he taken care of?” Answering a query, she said “we are trying to revive the economy. But the odds are manifesting themselves in Parliament. Against every such terrible odd, the government is trying it best to take everyone’s voice on board.”
SOURCE: The Hindu Business Line
Federation of Indian Chambers of Commerce and Industry’s (FICCI) national executive committee (NEC) which met here today urged the government to offer tax benefits linked to direct employment for start-up businesses. Jyotsna Suri, President, FICCI, told reporters after the NEC meet that the tax benefits could be “for a defined rebate proportion of up to 50 per cent and for a limited period of about five years.”
FICCI has also urged the government to take significant measures to boost MSMEs and entrepreneurship, especially with the creation of Mudra Bank and self-employment and talent utilisation (SETU) mechanism. “Given the considerable stress the government has laid on boosting entrepreneurship, FICCI suggests introduction of a rebated income tax for small start-up businesses, in essence individually owned,” Suri said. On the basis of experience in China and Singapore, the Indian scheme can be called START (Start Up Rebated Tax) wherein tax benefits are linked to direct employment by the start-up businesses. One of the key issues for small businesses is the sanctity of contracts and steps must be taken to ensure that commercial contract can be enforced quickly.
FICCI has called for a level playing field in ‘Make in India’ initiative. Suri said Make in India is a great initiative and “to make it truly successful we need to create an efficient and competitive eco-system for the industrial sector.” “We urge the government to look into the specific bottlenecks that have affected expansion of our manufacturing sector. We would also request for additional push to export-oriented sectors that have been reeling under stress due to slowing global demand,” she added. The trade body also urged the government that the existing FTAs must be reviewed and new FTAs must result in greater effective market access for Indian industry. Apart from holding consultations and meeting at Central Government level, FICCI has been actively working with State to promote investments.
Suri said, “While massive impetus has been given to public investment, government may also consider initiating privatization of public sector ports; identify one port for privatisation in the current year.”
For implementing power reforms, government has set an ambitious target of 24x7 power for all. “Given the huge NPAs accruing from the State distribution companies, there is an urgent need to build consensus with states on reforms in power distribution and draw up a common minimum programme to be implemented in a time bound manner,” she said.
SOURCE: The Hindu Business Line
India and Australia are soon likely to sit for the next round of negotiations on the proposed Comprehensive Economic Cooperation Agreement (CECA), even as talks between the both gain momentum in an attempt to reach the December-end deadline. This is going to be the ninth round of talks, which will take place in Australia. The talks gathered momentum since the visit of Australian Prime Minister Tony Abbott in India in 2014. Both PM Abbott and Prime Minister Narendra Modi have given their weight behind the CECA and set the 2015 deadline. However, talks continue to remain stuck on the sensitive issue of agriculture, as Australia is demanding greater access into the Indian markets by way of lower tariffs and duty-free access for some of its dairy products. But for India, this translated into allowing cheaper imports of Australian diary goods that might impact the millions employed in the sector.
India-Australia CECA could well be the first such broad-based free trade deal that the new government would enter into after coming to power last year in May. Ever since the talks started in 2011, both sides have had eight rounds of negotiations. According to sources, Australia is willing to give India similar concessions in terms of slashing of tariffs in a wide range of goods, as it did with China and New Zealand under a bilateral arrangement. But in the bargain, Australia is also insisting on “same or greater concessions” that India has offered to Japan and South Korea in the respective bilateral trade pacts with them.
For India, the main concern is how the Regional Comprehensive Economic Partnership (RCEP) agreement pans out, in which Australia is also a member. Besides, India and Australia have both locked horns over services. Both sides want a liberal visa regime and greater movement of its professionals into each other’s countries. Bilateral trade between India and Australia presently stands at $15 billion compared to $160 billion worth of trade that Australia has with China. Recently, Australian Trade Minister Andrew Robb stated that signing the CECA with India is their “number one priority”. He also said during the India-Australia CEOs forum, the services sector is a crucial area for both the countries and Australia can contribute significantly in areas such as engineering, education, healthcare, contracting, construction, design and architecture.
SOURCE: The Business Standard
Singapore is keen to upgrade its existing Comprehensive Economic Co-operation Agreement (CECA) as the East Asian country wants to be a ‘partner’ in economic development here. “We want to be a partner in India’s economic growth. We want a strategic partnership to deepen bilateral economic and people to people relations,” K Shanmugam, Minister for Foreign Affairs and Law of Singapore, said here today. He was speaking at the International Business Conference 2015. India has a huge youth force and they should be “skill trained as otherwise they would become angry young men”, he said. On the occasion, Union Minister Nirmala Sitharaman said though the economy was liberalised in the early 90s, India’s image of being a regulatory and control driven economy still persisted. “We are working on removing that image. The government should be seen as a facilitator and not a regulator,” she said. Later talking to reporters, she said differences over GST (Goods and Services Tax) have been ironed out. “Government is hopeful about passing it during the current Parliament session if it works.” Even as negotiations are on for agreements with Australia, Canada and European Union, the ministry is also exploring the possibility of Free Trade Agreements with Eurasia and Latin American countries, especially Peru, she said. A study group has been formed to assess trade potential in Eurasian countries, Sitharaman said. “There are a lot of discussions that are going on (for FTAs) now,” she said.
SOURCE: The Financial Express
The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 54.41 per barrel (bbl) on 24.07.2015. This was lower than the price of US$ 55.39 per bbl on previous publishing day of 23.07.2015.
In rupee terms, the price of Indian Basket decreased to Rs 3476.25 per bbl on 24.07.2015 as compared to Rs 3528.90 per bbl on 23.07.2015. Rupee closed weaker at Rs 63.89 per US$ on 24.07.2015 as against Rs 63.71 per US$ on 23.07.2015. The table below gives details in this regard:
|
Particulars |
Unit |
Price on July 24, 2015 (Previous trading day i.e. 23.07.2015) |
Pricing Fortnight for 16.07.2015 (June 27 to July 13, 2015) |
|
Crude Oil (Indian Basket) |
($/bbl) |
54.41 (55.39) |
58.69 |
|
(Rs/bbl |
3476.25 (3528.90) |
3730.34 |
|
|
Exchange Rate |
(Rs/$) |
63.89 (63.71) |
63.56 |
SOURCE: PIB
Garment shipments to the European Union, the country's single largest export destination, increased 4.11 percent year-on-year to $15.37 billion last fiscal year. At present, the 28-nation economic union accounts for 60.28 percent of the country's garment exports a year. In Europe, Germany was the prime destination, as in previous years, accounting for $4.33 billion of the $15.37 billion exports receipts. The UK came in next, importing $2.9 billion of garment items from Bangladesh, followed by Spain at $1.62 billion, France at $1.61 billion and Italy at $1.24 billion.
Bangladesh could have grabbed a bigger share of the EU's 165 billion-euro garment market if there had been no political crisis in the first three months of 2015, said Atiqul Islam, president of Bangladesh Garment Manufacturers and Exporters Association. “The response from the EU markets is still very strong,” he said, adding that the positive reports from the Accord and Alliance on the state of the country's garment factories reassured the European retailers. After the EU, the US is the second most important export destination for Bangladesh, accounting for 20.71 percent of the total garment exports.
SOURCE: The Global Textiles
Shipments of Vietnamese garment and textile products to the U.S., the leading export market of Vietnam, are expected to top US$11 billion in value this year, a 12.24 percent year-on-year rise, said an official from the Vietnam Textile and Apparel Association (VITAS). The U.S. is Vietnam’s top market, covering about 50 percent of the Southeast Asian country’s total exports, the Hai Quan (Customs) news website quoted Dang Phuong Dung, deputy chair of VITAS, as saying last week. This is the market that most countries in the world are always eager to export goods to, Dung added. Vietnam’s exports of garment and textile products to the U.S. have continued to leap forward over the last 20 years, from zero to $9.8 billion in 2014, she said. If the Trans-Pacific Partnership (TPP) trade agreement is signed, this figure will likely double, the deputy chairperson added.
The TPP is a proposed regional free trade agreement aimed at eliminating tariffs and lowering non-tariff barriers that is being negotiated by 12 countries throughout the Asia-Pacific region, which collectively contribute almost half of global output and over 40 percent of world trade. The 12 countries are Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam. The TPP signing will bring benefits to Vietnamese enterprises, the first of which will be reduced import duties on garment and textile products shipped to the U.S. "If meeting the requirements of TPP, especially the yarn forward rule of origin, Vietnamese goods will have an edge in the U.S. as the import taxes will be halved, from 15-16 percent to 7-8 percent,” Dung told Hai Quan. The “yarn forward rule of origin” requires that all items in a garment from the yarn stage onward be made in one of the countries that are party to the TPP pact. This is one of the main challenges facing Vietnamese textile and garment businesses, according to the American Chamber of Commerce in Vietnam.
“In simple terms, the ‘yarn forward’ rule means that the benefits of the agreement accrue to regional producers rather than outside players such as China,” the business association said on its website. The TPP’s strict origin requirements pose a challenge for garment and textile businesses, as the industry is heavily dependent on imports, especially from China, for materials, Dung said. Therefore, according to representatives of VITAS, the government and the industry should coordinate in attracting foreign companies to invest in Vietnam to supply materials, strengthening links between domestic producers, exporters and material manufacturers. Julia K. Hughes, president of the U.S. Fashion Industry Association, told Hai Quan that many U.S. companies will wish to source from many countries participating in the TTP when the agreement takes effect, and Vietnam is the highest rated in its ability to attract new American businesses. Therefore, the Southeast Asian country should seize this opportunity, Hughes advised.
Tran Viet, chief of the legal department of state-run Vietnam National Garment and Textile Group (Vinatex), told Hai Quan that textile exports continued to grow at double-digit rates in the first half of 2015 to $12.8 billion, an increase of 10.26 percent over the same period last year. In particular, shipments to the U.S. market occupied 42 percent of total textile exports, earning $5.18 billion, which represented an increase of 11.01 percent over the same period of 2014, Viet said. Meanwhile, Vietnam's garment shipments to the EU were estimated at $1.45 billion, up 8.2 percent compared with the same period of 2014.Le Tien Truong, Vinatex general director, said even if exports in the rest of the year rise more slowly than projected, Vietnam’s garment and textile shipments can still achieve the target of $27-27.5 billion this year.
SOURCE: The Global Textiles
Campaigners at Greenpeace are celebrating the EU’s decision to ban imports on textiles containing nonylphenol ethoxylates (NPEs), chemicals used as detergents and wetting agents in the manufacture of clothing. The organisation has been lobbying for many years to ban the use of NPEs, which are released into waterways when clothes containing them are washed. There they break down into nonylphenol (NP), which accumulates in the environment and has been shown to have toxic and endocrine-disrupting effects on fish and other wildlife. The EU banned the use of NPEs in textile manufacture several years ago, but the latest decision prevents companies importing NPE-containing textiles that have been manufactured elsewhere. Many high profile clothing brands, such as Nike and Puma, have also announced plans to remove textiles made using NPE from their products.Greenpeace called the move a ‘huge victory’ for campaigners. ‘Manufacturing countries such as China rely heavily on their trade relationship with Europe,’ the organisation said. ‘China’s textile industry needs to be more progressive in identifying and banning harmful chemicals from their products otherwise they will lose a key market.’
SOURCE: The Chemistry World
The incentive of Rs 64.15 billion cash subsidy to the textile and clothing sector under the textile policy would boost the exports to $ 26 billion by 2019. Official sources said on Tuesday that the package announced under the policy (2015-19), carries special duty-drawback rates, duty exemption on plants and machinery and subsidy on long-term loans. The Finance Division would provide Rs 40.6 billion over five years for duty drawback, technology up-gradation and brand development while another Rs 23.5 billion would be provided for skill development, dedicated textile exhibitions, establishment of world textile centre, weaving city, incubators, apparel house and mega textile awards. Sources said around 120,000 persons would be trained through skill development programme and 50 small companies from the sector would be picked each year, for next three years, to support the government. The proposed measures would promote value-addition and generate employment for more than 5 million people, the sources added.
On the performance of textile industry, the sources said it was the most important manufacturing sector of Pakistan and had the longest production chain with inherent potential for value addition at each stage of processing, from cotton to ginning, spinning, fabric, dyeing and finishing, made-ups and garments. They said the sector contributes to provide employment to about 40% of industrial lab or force, and consumed about 40% of banking credit to the manufacturing sector. Barring seasonal and cyclical fluctuations, the textiles products had maintained an average share of about 54% in the national exports, they added. Moreover, the sources said that the textile sector in Pakistan had remained stagnant over the last decade due to a number of exogenous and indigenous factors such as subsidies given to cotton farmers and other textile products by several countries which distorted prices, marketing constraints, global recession, and increasingly stringent buyers conditionality. They said on the domestic side, cotton production had remained stagnant at about 13 million bales per annum and the resistance to grading and standardisation of cotton bales by ginners and spinners alike had consistently lowered the value of Pakistani cotton by around 10 cents per pound in the international market. On the other hand, the value-added garments sector had grown marginally due to its limited product range, low usage of manmade fibres and inability of manufacturing units to restructure in order to meet the changing international requirements, they added.
SOURCE: The Global Textiles
Indonesia has raised import tariffs on more than a thousand items covering many consumer goods such as clothes, food and cars to arrest an economic slowdown and falling retail sales, according to media reports. Economists have warned it would fuel inflation and noted firms faced bigger problems than foreign competition. For clothes, the new import tariffs were raised mostly to between 15 per cent and 25 per cent, the government said. T-shirts, used clothes and corsets, will be levied duty between 22.5 and 35 per cent. "Domestic industry is being overwhelmed by the flows of imported goods. We need to curb these flows so domestic products would not be outnumbered," Heru Pambudi, the customs and excise tax director-general, told reporters in Jakarta. Business groups have cheered import duty rises on a wide range of manufactured goods, expressing hope of a boost to domestic industry amid the current economic slowdown.
Indonesian Textile Association (API) chairman Ade Sudrajat said that the tariff increases would be beneficial to the domestic manufacturing industry, allowing fairer competition between locally made and foreign goods. In the textile industry, significant production costs caused by higher energy costs and labor wages hinder competition with cheaper imports. Textile manufacturers have felt the major impact of higher costs and weak demand. Indonesia's economy grew by only 4.7 per cent in the first quarter, the lowest rate in nearly six years. The textile industry trimmed production by 20 per cent in the first quarter of this year and maintained low output through the second quarter, decreasing factory utilisation.
SOURCE: The CCF Group
Germany is Vietnam’s most important European Union trade partner by trade value, making up 28 per cent of the trade between Vietnam and the EU. Bilateral trade reached US$1.28 billion in the first two months of 2015, up 15.9 per cent from the same period in 2014. Germany and Vietnam’s recent push to establish a Joint Chamber of Commerce (JCC) has affirmed both nations’ desire to further trade relations and foreign investment opportunities. According to Vietnam Chamber of Commerce Industry President Dr Vu Tien Loc, both Germany and Vietnam are hopeful that a German Vietnam JCC will create a formal platform to cultivate diplomatic communication, stimulate trade missions, and create an environment for increased long term investment of German industries in Vietnam. The existing profitability of German investment in Vietnam, coupled with the recent push for a Germany-Vietnam joint chamber of commerce, is good news for German companies looking to enter the Vietnamese market. Vietnam relies heavily on a wide range of German products, and the market has been particularly favourable to German machine manufacturing and the German pharmaceutical industry.
Machine Part Manufacturing
The German machinery industry has been met with immense success in Vietnam. Approximately 46 per cent of all Vietnamese machinery imports are German, most notably in the food processing, textile manufacturing, and medical device sector. The US$20 billion textile industry has depended upon Germany more than any other European nation to provide the machinery to Vietnam. Vietnam’s textile industry in itself has been particularly profitable for the nation, accounting for 15 per cent of the total GDP and 18 per cent of all exports in 2013. The US$20 billion textile industry has depended upon Germany more than any other European nation to provide the machinery to Vietnam.
The German Engineering Federation Textile Machinery Association, which accounts for 90 per cent of Germany’s textile machinery manufacturing sector, produced €3.4 billion (US$3.6 bil) of textile manufacturing machinery in 2014. Vietnam is a prime market for these machines. German machines have also established a profitable niche in Vietnam’s food processing industry. As with Vietnam’s textile manufacturing, its food processing packaging industry has experienced rapid growth in the recent years, currently accounting for approximately 40 per cent of all exports. Germany food processing machine companies profited from approximately US$391 million worth of sales from January of 2014 to November of the same year.
A notable sector for future German investment is Vietnam’s medical device industry. Vietnam’s rising middle class and increased purchasing power has pressured Vietnam to improve health services in the recent years, and the majority of Vietnamese doctors report preference for foreign medical devices. The country’s hospitals import approximately 90 per cent of required medical devices and 100 per cent of high-tech devices, including X-Ray, CT Scan, and ultrasound machinery. German investors have been quick to capitalise on the opportunity; according to the U.S. International Trade Administration, Germany currently controls 30 per cent of the market for medical device imports to Vietnam.
SOURCE: The Establishment Post
