Home / Knowledge / News / Textiles / Vietnam textile sector needs $22-bn investment by 2025
Vietnam textile sector needs $22-bn investment by 2025
08
Aug '17
Vietnam needs $22-billion investment by 2025 in the textile and dyeing sector to address capital shortage and to meet the demand for clothes and ancillary materials of outsourcing enterprises, says the Vietnam Cotton and Spinning Association (VCOSA). Textiles and garment is the country’s third largest export sector with a turnover of $28 billion in 2016.

However, due to lack of proactive steps to generate raw material locally, around 70 per cent of the 8.9 billion sq m of cloth consumed by the country’s textiles and garment sector annually was imported at a cost of $17 billion, according to a news agency report.

Apart from their financial potential, foreign textile corporations have a lot of experience in developing a synchronous production chain of textiles, fibre, weaving, dyeing and design, which will be an advantage for Vietnamese enterprises in the long term, said VCOSA chairman Nguyen Van Tuan.

But some experts feel Vietnam’s textile and garment industry should not merely attract foreign investors, but should also focus on high quality training for its domestic human capital. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

Textiles | On 25th Sep 2017

SVP Group to build $300 mn spinning plant in Sohar

ShriVallabh Pittie Industries (SVP) Group, a diversified yarn...

Apparel/Garments | On 25th Sep 2017

Vietnam textile sector to gain if EU FTA gets ratified

Experts feel the Vietnam-European Union (EU) free trade agreement...

Courtesy: Business Wire

Textiles | On 25th Sep 2017

Invista to use ADN technology at joint project in France

Invista, a leading producer of chemical intermediates, polymers, and...

Interviews View All

Deepak Jain
Baggout

We are using Facebook and Instagram to promote ourselves

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Divvya and Nidhhi Gambhir
Walnut

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

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

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