Over 500 businesses from 24 countries and territories are taking part inthe Vietnam Saigon Textile and Garment Industry Expo (Saigon Tex 2014),opened in Ho Chi Minh City on April 10.

According to the organising board, the number of foreign enterprises atthis year’s event is around 10 percent higher than that of 2013.Notably, 283 of them come from China.

Machinery and garment accessories are of interest at Saigon Tex 2014, it said.

Within the four-day annual event, an array of activities will takeplace, for example a workshop on the prospects of the industry once theTrans-Pacific Partnership agreement is signed or another on a free tradeagreement between the EU and Vietnam.

DeputyMinister of Industry and Trade Ho Thi Kim Thoa said as an importanteconomic sector, Vietnam’s textiles and garments earned more than 20billion USD in export revenue in 2013.

She addedthat Saigon Tex 2014 will continue providing a platform for domestic andforeign businesses to exchange experience and technology as well asseek new partners.

Vice Chairwoman of the HCM CityPeople’s Committee Nguyen Thi Hong noted that in the first quarter of2014, Vietnam’s textile and garments industry witnessed a growth rate of40 percent, while fabric and apparel accessories also spiralled 41percent on a year-on-year basis.

Her city pledges to create best possible conditions for enterprises to invest in the sector, the official said.-VNA