As the world's third largest textile exporter, Vietnam is broadening its horizons beyond apparel production, embracing advancements in other textile sub-sectors. This event marks a significant milestone for Vietnam, providing a unique opportunity for industry leaders to connect and explore the dynamic Vietnamese market, the fair’s organisers Messe Frankfurt and the Vietnam Trade Promotion Agency (VIETRADE) said in a press release.
“Despite a tough business environment globally, many companies in our industry have recorded a healthy growth in sales. During productive conversations with exhibitors at recent fairs, I sensed a strong belief in the wider textile sector’s prospects, especially in certain geographic hotspots. Multiple suppliers demonstrated concrete interest in showcasing at VIATT next year, and were eager for this unprecedented opportunity to grow their businesses in the Vietnamese market,” said Wilmet Shea, general manager of Messe Frankfurt (HK) Ltd.
In line with the industry’s anticipation, the country was identified as the ideal location for ASEAN’s new comprehensive textile platform for several key reasons. Vietnam’s pro-business policies, strategic geographical location, abundant labour force, and favourable trade agreements have contributed to its rise as a global textile manufacturing hub. Agreements such as the Regional Comprehensive Economic Partnership (RCEP); the Indo-Pacific Economic Framework for Prosperity (IPEF); and 15 free trade agreements (FTAs) covering over 60 countries and regions, will further enable participants from across the value chain to conduct cross-border business after connecting at next year’s show.
In addition, several key travel initiatives that serve international players have been implemented, including the country’s APEC Business Travel Card programme, availability of e-visas to all nationalities, and visa-free travel for select countries.
In Vietnam’s home textile segment, rising urbanisation, emerging young consumers, and higher disposable incomes are interrelated factors driving growth. Globally, three of the top trends include recycling; utilising green fibres; and the increasing use of technical fabrics for enhanced comfort and health. At the fair, confirmed home textiles exhibitors include Hanyang Eco Tex, Hohmann GmbH, Phuong Nam Feather, and SIGMA, set to showcase their most up-to-date products, covering bedding, upholstery fabrics, curtain, and sun protection.
Utilised for automobiles, civil aviation, construction, health care, and more, Vietnam's exports of technical textiles reached $676.6 million for the first nine months of 2022, up 17.1 per cent compared to the same period in 2021. This in turn bodes well for the country’s import prospects of quality machinery and equipment. Hoping to cater to domestic demand at VIATT 2024, international suppliers in this category include Julai, SIGMA, and Skwentex.
Meanwhile, apparel-related products make up the lion’s share of the country’s textile exports. According to Vietnam Textile & Apparel Association (VITAS), in 2022, these numbered $29.1 billion. From Ho Chi Minh to Hanoi, numerous international fashion brands have a manufacturing presence, including Adidas, H&M, Lacoste, Lululemon, Nike, The North Face, Uniqlo, and many more.
At next year’s fair, exhibitors such as Avery Dennison, Lenzing, Stylem Takisada-Osaka, and Texwinca, will aim to draw the attention of apparel brands and a wide range of other domestic and international buyers.
Fibre2Fashion News Desk (DP)