Export remains major driving force of apparel industry
The development strategy of the textile and garment industry until 2030 with a vision to 2035 has clearly identified that exports will continue to be a major and crucial driving force for the sector's growth.
At Hoa Xa fiber factory of Nam Dinh Garment JSC, one of the biggest fiber producers nationwide. (Photo: VNA)
HCM City (VNA) – The development strategy of the textile and garment industry until 2030 with a vision to 2035 has clearly identified that exports will continue to be a major and crucial driving force for the sector's growth.
In addition, the industry development must be closely linked to the protection of ecological environment, fulfillment of obligations and social responsibilities in line with sustainable development goals and international commitments.
Alongside digital transformation, countries are transitioning to green and circular economies. The textile and garment industry is seen as a central player in this transition trend.
Truong Thi Ai Nhi, an expert from the Institute for Circular Economy Development (ICED), said even though Vietnam is one of the world's leading textile and garment exporters, its textile and garment industry is still in a vulnerable position. This is because Vietnam primarily focuses on processing and lacks control over supply sources and product distribution. Its rate of locally-made items is only around 30-35%.
The Vietnam Textile and Apparel Association (VITAS) forecast that production and export will gradually improve, but challen🌌ges will persisꦦt throughout this year due to the lack of orders for the third and fourth quarters.
Producing apparel for export (Photo: VNA)
In order to achieve the export target of 39-40 billion USD this year and effectively carry out the Vietnam textile and apparel development strategy until 2030 with a vision to 2035, VITAS urged firms to seek measures to retain the workforce, especially the core ones; hold training courses to serve green transition and digital transformation.
It suggested retaining customers by accepting orders with no profit, building reliable and long-term partnerships, exploring new markets, and paying attention to the domestic market.
Minimising unnecღess💜ary costs is also necessary, it said./.
It is necessary for domestic enterprises to switch to green textile and garment production in an effort to achieve sustainable development goals and cope with the gradual loss of Vietnam’s cost advantage, insiders have said.
A delegation from the Vietnam Textile and Apparel Association (VITAS) and the Vietnam Leather, Footwear and Handbag Association (LEFASO) joined the 16th edition of the Sourcing at Magic (Magic Show) in the US city of Las Vegas from August 7-9, with 20 stalls.
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The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
At Hoa Xa fiber factory of Nam Dinh Garment JSC, one of the biggest fiber producers nationwide. (Photo: VNA)
Producing apparel for export (Photo: VNA)
