The US Chamber of Commerce Vietnam forecasts that Vietnam will take Mexico and India to rank second, only after China, in terms of apparel exports to the US, with export turnover hitting US $6.1 billion, if the present trend continues.
Vietnam’s market share is predicted to growth rapidly from 3.2% (fifth place) in 2005 to about 6% and second place in 2008.
In 2007, Vietnam ranked fourth as a supplier to the US apparel market, up from fifth position in 2006, behind China, Mexico, India.
According to statistics from the Ministry of Trade and Industry, Vietnam’s exports of apparel products to the US reached US $4.5 billion last year, exceeding crude oil export turnover, despite US’s application of a program to monitor imports of apparel from Vietnam, thus, Vietnam has had to work out an export monitoring programme to cope with this.
This year, Vietnam targets to earn US $9.5 billion from exports of apparel products, up 21.8% against 2007. (VnExpress)
SINGAPORE/VIETNAM: Awilco Offshore's newbuild jackup WilBoss is being anchored off Singapore while the rig is waiting to be transported to Vietnam for its first drilling assignment with Premier Oil.
The rig is scheduled to embark on an exploration and development drilling program in the Blackbird field from March 2008. WilBoss will first drill on the Chim Sao North development well, which is expected to be suspended as a future oil producer. After completing Chim Sao North, the rig will move on to drill exploration wells in the block, including the Chim Ung or Falcon well, which will test a prospect on trend with Chim Sao and other high impact and near-field exploration prospects. The entire drilling program will target reserves in excess of 200 million barrels.