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Vietnamese garment sector to face fierce competition
10
Nov '17
With an undeveloped supply chain and relatively lower value-addition, the Vietnamese garment sector is poised to face stiffer competition in the world market from China, Myanmar and Cambodia, experts told a recent seminar in Ho Chi Minh City. The value addition is not high as domestic businesses mainly handle work outsourced by foreign firms.

Domestic businesses should, therefore, improve workers’ skills, adopt new trading methods and update management styles to optimize production and improve efficiency, according to Pham Xuan Hong, chairman of the Ho Chi Minh City Association of Garment Textile Embroidery-Knitting (AGTEK).

Speakers proposed measures, such as fully exploiting the domestic market of more than 90 million people and maintaining and cultivating further key markets in the United States, the European Union, Japan, India, South Korea, Latin America and the ASEAN region, according to a report in an online newspaper in Vietnam.

Foreign investment needs to be attracted in fibre production, weaving, and dying and modern garment and textile plants should be set up, the experts added. (DS)

Fibre2Fashion News Desk – India


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