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Textile, garment to have more local materials
Van Nam
Sunday,  Apr 14, 2013,21:37 (GMT+7)

Textile, garment to have more local materials

Van Nam

By Van Nam - The Saigon Times Daily

HCMC – Local textile and garment enterprises expect the localization rate of the industry to amount to 60-70% in the next three to five years compared to the current rate of almost 38%, said Hoang Ve Dung, Deputy General Director of Vietnam National Textile and Garment Group (Vinatex).

According to Dung, if textile and garment enterprises want to increase the value of exporting products, the capability of supplying materials and accessories is very important as there are more and more foreign customers wanting to have the accessory supply produced locally.

He was speaking at a press meeting at the 24th international expo on textile, garment and accessories 2013 (SaigonTex 2013) which is taking place at Tan Binh Exhibition and Convention Center until Sunday.

This year’s expo is a good chance for enterprises to find the supply of machinery and accessories for the textile-garment industry as there are up to 357 enterprises coming from 22 countries displaying their products, according to the organizers.

China has the highest number of participating enterprises with 160 units.

Although textile and garment enterprises are encountering many difficulties like increasing wage and costs of electricity, water and materials, declining product price, several enterprises have signed exporting contracts enough for production until September.

Dung said that the industry grew by nearly 17% year-on-year in the first quarter with the export turnover amounting to around US$4.2 billion. This is a good signal for the industry to achieve US$18.8-19.2 billion in export turnover for the whole year.

In the first quarter, the volume of textile and garment products exported to big markets increased, with over US$300 million recorded in Japan and Europe each and US$1.3 billion in the U.S.

In addition to traditional markets, Vietnam will boost exports to new markets such as Saudi Arabia, Russia, Turkey, South Korea and African countries.

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