Home / Knowledge / News / Textiles / Rising exports give boost to textile machinery sector
Rising exports give boost to textile machinery sector
14
Jul '10
Vietnam associates great importance to the growth of textile and apparel industry, thereby, depending on the industry as a key export power, as the overall textile and apparel production of the country for export is over 80 percent.

Of China, Mexico, India, Brazil, Pakistan and Cambodia, Vietnam is currently the seventh largest source of imports of textiles to US. In 2003, Vietnam's exports to US stood at $2.48 billion, which is over 131 percent rise in the number recorded last year; therefore the net amount rose by 161 percent.

European Union (EU) is Vietnam's second largest garment export market, after US, while Japan is the third biggest apparel market with no quota imposition. More so, US values the quality of apparels produced by Vietnam and ranks the same higher than other clothing producing nations like India, Pakistan and China.

As per Vietnamese Textile and Garment Corporation, it is time for Vietnamese apparel industry, to upgrade equipments to manufacture garments, thereby meeting US, Japan, Europe and other high-end fashion market's demands. For the same Vietnamese apparel industry will spend around $2.3 billion to improve their sewing techniques.

Vietnam's flourishing clothing industry has already lured many foreign sewing businesses, so much so that, they have their eyes set on the Vietnamese market and are looking for more chances for entering in to new businesses.

With an intention of investing for longer duration, two firms from Japan, Heavy Machinery and Brothers, have already launched a branch office in Vietnam. There is tremendous scope and attraction towards the Vietnamese market and hence these sewing firms decided to set foot, so as to capture this chance and help expand the Vietnamese apparel export market.

The clothing industry of Vietnam is considered as a hub of human resources, low-cost labourers, and low-priced globally competitive goods. Within the past two years, Vietnam's apparel industry has witnessed over 2,000 big and small factories set up Taiwan, South Korea, Mainland China, Singapore and Hong Kong. Investors such as these are thereby, helping surge the growth of Vietnam's apparel trade and are also raising the demand for apparel equipments.

In order to attain a rise of 20 percent of the target output in the next five years, Vietnamese textile and apparel industry will have to generate 1,600 new factories or workshops.

Fibre2Fashion News Desk - India


Must ReadView All

Textiles | On 19th Sep 2017

Karl Mayer expands service operations in Asia

Karl Mayer, a world leader in the production of warp knitting and...

Textiles | On 19th Sep 2017

Welspun bags Made in Green label by Oeko-Tex

Welspun, a leading home textiles manufacturer, has been awarded Made...

Courtesy: SGS

Textiles | On 19th Sep 2017

SGS expands testing facilities in Naucalpan, Mexico

SGS has expanded testing facilities in Naucalpan, Mexico, creating a...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Lynda Kelly
Suominen Corporation

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

Ritu Kumar
Label Ritu Kumar

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

Pranav Mishra
Huemn

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

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

September 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
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

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
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

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
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

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
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


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