Home / Knowledge / News / Apparel/Garments / 'Vietnamese domestic garment market has rich potential'
'Vietnamese domestic garment market has rich potential'
22
Aug '13
Although there are several advantages in promoting garment and textile products in foreign countries, Vietnamese domestic market also has rich potential, experts said at a workshop on the draft plan for Vietnamese textile industry 2020-2030.
 
The draft development plan prepared by the Ministry of Industry and Trade, stresses on improving designing capabilities and catering to the domestic market.
 
Vietnamese apparel companies are mainly focused on exports and they enjoy only about 45-50 percent share in the domestic market, speakers at the workshop said.
 
According to them, with a population of nearly 90 million and a growth rate of over 2 percent per year, there is huge market for garments in Vietnam.
 
In 2010, Vietnamese citizens spent approximately US$ 2.2 billion on clothing, and increased their spending to US$ 2.51 billion by 2012, showing an average increase of 10-12 percent per year.
 
The draft plan also points at some problems faced by the apparel industry, including labour shortages and high dependence on imports for raw materials.
 
If these problems are not overcome, it would become difficult to achieve US$ 32 billion export target by 2020. In fact, achieving 60 percent local content in garments will be a big challenge, experts said.
 

Fibre2fashion News Desk - India


Must ReadView All

Indian govt relaxes cabotage rule for cotton transport

Textiles | On 25th May 2018

Indian govt relaxes cabotage rule for cotton transport

The Government of India has relaxed cabotage rules for transportation ...

Courtesy: Teejay Lanka

Textiles | On 25th May 2018

Teejay Lanka doubles production capacity at Indian mill

Teejay Lanka, one of Sri Lanka’s largest textile manufacturers, has...

Courtesy: Messe Frankfurt/Yarn Expo Autumn edition

Textiles | On 25th May 2018

Yarn Expo Autumn 2018 scheduled earlier

Over 500 exhibitors are expected at the Yarn Expo Autumn 2018, being...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Representatives
Textile & apparel industry

GST is a complicated and lengthy process

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Apurva Kothari

No Nasties was the first fashion brand in India to make 100 per cent...

Urmil Arya

Sushila International, a well established textile organisation established ...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search