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Vietnam's HCM City plans to boost garment export
06
Jul '13
HCM City administration is planning to double the export turnover of the garment and textile industry by 2015 over US$ 3.3 billion exports made in 2010.
 
The City authorities have asked garment manufacturers to boost production, enhance the quality of their products and explore new markets, according to Viet Nam News report.
 
A report released by the Thoi Bao Kinh Te (Vietnam Economic Times) says garment companies in HCM City have improved both the design and product quality by investing in advanced technologies during the recent years.
 
Many HCM City-based apparel companies, including Thai Tuan, Viet Thang, Ahn Phuoc, Phonog Phu and Viet Thy, have been able to increase their market share due to investment in latest production techniques.
 
The report says HCM City is also making a plan to reduce the garment and textile industry’s dependence on imported raw materials. 
 
For the purpose, a draft plan has already been prepared, which calls for more domestic production of materials used in the garment industry, including fabric and accessories like zippers.
 
The plan envisages raising the share of domestically produced raw materials for use in the garment industry from the present 45 percent to 65 percent by 2020.
 
The five-year plan drawn up for HCM City’s industry calls for setting up a design centre, a plant to manufacture machinery used in garment units, and a factory for production of accessories needed in the garment industry.
 
At present, there are over 5,400 clothing and textile manufacturing and trading firms operating in HCM City, that together employ around 306,000 workers.
 
In 2012, HCM City’s total exports crossed US$ 4.3 billion, growing at a year-on-year rate of 11.5 percent.
 

Fibre2fashion News Desk - India


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