The information was announced at a seminar on the
prospect of garment exports in 2018 held in Ho Chi Minh City on November 3.Speakers
at the seminar said that in addition to advantages and potential, the added
value of the garment industry is not high because domestic businesses mainly do
outwork for foreign firms. Its weakest point is an undeveloped supply chain,
resulting in a lower added value compared to other countries around the world.
Pham Xuan Hong, chairman of the HCM City Association of Garment Textile
Embroidery-Knitting (Agtek), pointed out the challenges for the industry in the
near future, including greater competition from regional countries like China,
Myanmar, and Cambodia.To overcome barriers and sharpen competitive capacity,
Mr. Hong said domestic businesses must improve workers’ skills and renovate
management methods to optimize production and improve efficiency.He forecast that the garment sector will thrive next year
if strategies are implemented effectively to put the industry on the right
track. Particularly, businesses are researching new trading methods, which will
help create more added value.
To iron out the snags and increase added values of export garment products, the
Government and other relevant ministries and departments have gradually removed
hurdles and issued policies to develop the support industry, contributing to
the development of the supply chain in the garment sector.Participants at the
seminar proposed measures such as fully exploiting the domestic market of more
than 90 million people, and maintaining and developing key markets such as the
US, EU, Japan, and the Republic of Korea, as well as other markets like ASEAN,
Eurasian Economic Union, India, and Latin America.Other proper policies should
be devised to attract foreign investment in fibre production, weaving, and
dying, and mobilizing sources to develop smart garment and textile plants.
Source: Vietnam News, Vietnam Tuesday, 07 November 2017