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Vietnam - Preferred choice for Japanese RMG imports
28
Apr '11
Fumio Koyama, a senior expert from the Japan International Cooperation Agency (JICA), in a statement said that, Vietnam, with its reasonable labour cost, is developing into a preferred choice of garment and textile businesses of Japan.

He said this while speaking at the Consultation Seminar on Garment and Textile Exports to Japan, held in Hanoi on April 26.

He stated that, several investors from Japan are adopting “China+1” business strategy to introduce new production line, rather than solely concentrating on China, with a view to add new supply sources. Vietnam is one of the destinations which have drawn attention of these investors.

While talking about sustainable development of Vietnam's textile and garment exports, the JICA official stated that, Japanese associates could assist Vietnamese entrepreneurs to set up manufacturing units in foreign countries, along with training of managers and other labour force.

As revealed by the Ministry of Industry and Trade, Vietnam's earnings from textile and garment exports to Japan for 2010 came to US$1.2 billion, which constituted 11 percent of total export volume for the year from the sector.

Next to the US and the European Union (EU), Japan presently is the third biggest importer of textile and garment items from Vietnam.

Fibre2fashion News Desk - India

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