Home / Knowledge / News / Textiles / Textile sector slash imports to boost local production
Textile sector slash imports to boost local production
14
Mar '08
Vietnam National Textile and Apparel Group (VINATEX) has decided to take measures to increase local apparel production to 50 percent by 2010 in order to reduce dependency on imports.

Le Quoc An, General Director of Vinatex as well as the Chairman of the Vietnam Textile and Apparel Association (Vitas) opined that encouraging local production of apparel accessories is one of the most significant strategies for the textile and garment industry of Vietnam.

Presently, local production of apparel stands at around 43 percent, however, the industry is expected to produce some one billion meters of fabric in the next five years.

In 2007, Vietnam's textile and garment exports turnover saw a year-on-year rise of 23 percent to reach US $7.5 billion.

Although, expenditure on apparel materials increased by 27 percent in 2007, the average ratio of imported goods compared to that of local products has been declining steadily and this is surely a positive sign for the domestic textile industry.

Of the total amount of apparel materials sourced last year, cotton fiber accounted for $28 million, yarn some $744 million, fabric $3.98 billion while other items and accessories formed about $1.5 billion.

Industry experts suggested that if local material is available at value 10 percent higher than imported items of the same quality, then manufacturers must opt for the domestic sources because of easy accessibility and timely deliverance of the raw materials.

Moreover, Mr An also stated that low profit margins have endangered cotton farming. Therefore the setting up of trading centers for apparel materials is one of the necessary steps to solve difficulties for Vietnam's textile industry.

Fibre2fashion News Desk - Vietnam


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Karin Ekberg
Leadership & Sustainability

Sustainable models are beneficial for brands, retailers and manufacturers

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Mohammad Hassan
Biax Fiberfilm

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search