On the occasion of the arriving Lunar New Year of 2023, on behalf of VCOSA, I would like to sincerely wish all VCOSA’s distinguished members and partners a Happy New Year full of health, joy, happiness and success.
The year 2022 is coming to an end, while our country and the economy are still facing many difficulties and challenges, the yarn industry is not an exception. Furthermore, we are facing an even bigger problem than the textile industry due to the longer endurance time to overcome these challenges.
The main reason for this hardship comes from the constantly fluctuating input materials’ prices for cotton and fiber. Demand and selling price of yarn are still low and many yarn enterprises have almost no orders. This situation forces many yarn companies to confront with price competition, low production and business efficiency.
In the new year of 2023, I hope that the export markets will soon open and the economy will stabilize again. Having a proactive and robust spirit in seeking adaptive solutions to overcome these challenges, I believe that our members and partners will continue to maintain the highest production and business efficiency, contributing to building a more sustainable cotton yarn industry in Vietnam.
With all respect, VCOSA is very grateful for your support and cooperation in the past year and we are looking forward to receiving the companionship, cooperation and support of our members and partners in the future of 2023 and subsequent years.
VCOSA will always accompany our members and partners on the path towards strong and sustainable development in the future.
Once again, wishing all members and partners a happy new year of prosperity and luck.
Sincerely,
Nguyen An Toan
Chairman
