Web VYP ECV 8th 2022

Happy Lunar New Year 2022

We have entered the year 2022, the Year of the Tiger with a new beginning, on behalf of the Board of Directors of the Vietnam Cotton and Spinning Association – VCOSA, I would like to extend my heartfelt best wishes for health and happiness to all members and partners.

Last year, the Covid-19 pandemic continued to cause many difficulties and disadvantages for the global economy, as well as Vietnam economy. Our Cotton – Spinning industry is not an exception to these difficulties. Despite unprecedented challenging circumstances, Vietnam’s Cotton – Spinning industry has made great efforts, upholding the motto “turning crisis into opportunity”. As a result, in 2021, our Cotton – Spinning industry has achieved an encouraging growth in volume and export turnover. Specifically: fibers and yarns are the most significant contributor to the export growth of textiles and garments this year. Export turnover of fiber and yarn products in 2021 reached USD 5.61 billion, up 50.2% compared to 2020. Fibers and yarns are one of the top 3 commodity groups that Vietnam exports to China with a value of 2,732 billion USD.

In 2022, challenges and difficulties are still complicated and unpredictable at both macro and micro level. Vietnam’s ​economy has a prospect of recovery thanks to the demand from the export market, domestic consumption, attracting FDI, timely and effective policies of the Government.

The reality of the past years, especially the year 2021, shows that VCOSA members maintain the value of each business as well as the operation of the Association thanks to their solidarity, efforts to overcome difficulties, placing employees benefits as the goal and motivation.

On the occasion of new year 2022, on behalf of VCOSA, I would like to wish our members and partners more achievements in work and life. I hope you will continue support VCOSA to grow more and more. Once again, I wish you all Happiness – Success – Prosperity.

Nguyen An Toan

Chairman of VCOSA

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