HONG KONG : An increasing number of overseas buyers are
sourcing products from Việt
Nam as the country is rapidly improving its supply chain for locally made
garments and taking part in more free trade agreements.The availability of a
young, skilled labour force is also attracting foreign buyers to the country,
Phạm Thiết Hòa, director of the HCM
City Investment and Trade Promotion Centre (ITPC), said during a recent
interview
Hòa spoke on the occasion of the business-to-business fashion trade show which
opened yesterday (October 27) in Hong Kong, showcasing quality garments,
textiles, and products and services from fashion-related industries.As many as
27 leading Vietnamese manufacturers of garments, textiles, fashion accessories
and garment-related industries are showing their products at the Global Sources
Fashion Show, which will run until the end of the month. ITPC is supporting most of the Vietnamese pavilions as part of its mission is
to help HCM City businesses and attract foreign investment to Việt Nam.“Việt Nam has become a more
attractive complementary garment sourcing destination for overseas buyers.
We’re seeing an increasing number of multinational firms from Taiwan, Hong Kong
and Singapore making not only completed finished clothes, but also buying
fabrics, textiles, yarns, plastics, printing and other accessories,” Hoà said.
“They’re looking to expand their production capacity in Việt Nam and are shifting their
production bases to Việt
Nam to enjoy tax incentives and other advantages.”
Before the show, ITPC worked with Global Sources, a Hong Kong-based B2B media
company, to provide effective B2B export marketing workshops to help increase
professionalism and buyer-supplier communication among firms.Vũ Ngọc Khiêm, chief representative
of Global Sources, said: “In collaboration with ITPC, we have created a
one-stop shop sourcing platform, for yarns and fabrics to completed clothes,
from labels and tags and interlining fabrics to textiles and fashion bags,
hats, caps and jewelry, so that buyers can meet businesses offline.”
Vietnamese exhibitors have improved their manufacturing capabilities and
expanded markets, finding new business buyers and growing exports, according to
Khiêm.Vietnamese-made garments can be alternatives to Chinese
suppliers, he said, adding that competitive price points were also important. The
idea of our show is to help our buyers get in front of Việt Nam’s top-quality export
manufacturers at one trade-show floor where decision-makers can meet and
negotiate trade possibilities.“We’ve
seen a trend where many export orders are shifting to Việt Nam not only because China is heading toward
more sophisticated higher-value manufacturing industries but also because
Vietnamese makers have stepped up to a new level of FOB export capabilities,
and are more ready to compete with rivals via differentiation and excellent
services, not just cost advantages anymore,” Khiêm told Việt Nam
News.
Many of Việt Nam’s
products will be featured during the fashion parade and at the New Market
Pavilion, according to Khiêm.Analysy’s Choice, the trusted column viewed
and evaluated by top buyers, designers and sourcing professionals, has also
taken note of many of these products, he added. Minh Hương,
director of the Việt
Nam National Textile and Garment Group (Vinatex), said: “This is the third B2B
tradeshow that Vinatex has exhibited with Global Sources. Vinatex aims to show
buyers our wide range of production scale from small to mass production, and
our one-stop sourcing house for buyers, from woven to knit items, with our
developing ODM services.”
“Our capability of supplying materials in a vertical integrated system
impresses buyers,” she said. “Not only is this a good opportunity for us to
collaborate with new buyers and see global trends, but it is a chance for
buyers to learn about our group and other professional manufacturers from Việt Nam at one convenient
offline event. We met several buyers face-to-face before the show and we will
meet them again to further our discussion in the pipeline.”
The
four-day tradeshow will
host 1,800 booths of accessories, fabrics and apparel from Việt Nam, China, South Korea,
India and the Philippines. event is expected to welcome more than
12,000 buyers from 150 countries and territories, including the US, the EU,
Hong Kong and Japan, among others.The on-site Fashion Parade features many
products made in Việt
Nam, including totes, bags and jewelry. The show offers a unique one-stop shop
theme where buyers can discover Vietnamese manufacturers offering all kinds of
garments, textiles, labels, bra cups and fashion accessories.Other highlights
include conference programmes, fashion parades and the Trends Forum, presented
by Fashion Snoops and Pantone.
Source: The Wall Street Journal Saturday, 28 October 2017