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'Focus on value additions like branding' - Experts
06
Jan '09
A workshop on the development of Vietnam's textile and garment industry, two years after joining WTO and measures to boost the sector was held in Ha Noi by the Ministry of Industry and Trade (MOIT).

According to Vietnam Textile and Apparel Association, this year's export value of the industry may reach around US $9.2 billion, listing Vietnam among the world's top ten textile and garment exporters. However, since the last few months, the industry is facing many difficulties, said the association.

The financial crisis has narrowed the consumption in its key export markets. Notably, the industry is learning to cope with challenges in this new global scenario. Mr. Ho Le Nghia from the Industrial Policy and Strategy Research Institute said that the industry contributes and participates in the production stage of finished products, which creates the lowest value in the value chain.

According to him at present, about 90 percent of Vietnam's textile and garment enterprises operate in this stage under various stages of processing. Not building a brand name is also the other weakness of Vietnamese enterprises, he added by saying.

Mr. Phi Ngoc Trinh, executive manager of Ho Guom Garment J.S.C remarked that the weakness of the industry lay more particularly in the garment as well as the knitting field. At present, most material and accessories need to be imported, resulting in higher prices of finished products compared to that of other regional countries.

Fibre2fashion News Desk - Vietnam

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