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Australian wool sees greener pastures in Vietnam

Aug '12
Australian Wool Innovation Limited (AWI), a fully independent public company owned by over 29,000 wool levy payers acting as shareholders, is planning to set up a wool manufacturing base in Vietnam next year. Through its ‘Out of Vietnam’ project AWI aspires to build up a sustainable supply chain in the country.
AWI has been trying to establish trade relationships with manufacturers and retailers in Vietnam for quite some time. Off late, due to its privately-owned companies, round-the-clock operating plants and a thriving entrepreneurial culture, Vietnam has emerged as an ideal place for AWI’s future endeavours. 
Vietnam boasts of a huge textile industry engaged in processing cotton, polyester and acrylic products with a semi-skilled workforce. The labour costs in the country, which is somewhere between US$ 185 to US$ 200 per month, is relatively cheaper. All these factors have contributed in making Vietnam a preferred location for establishing AWI’s wool project, despite the country lacking experience of wool growing.
Moreover, Vietnam enjoys good trade relationships with the Eastern European nations and Russia because of the bond shared by the countries after the Vietnam War. And this favourable trade relations between the countries increase AWI’s possibility to develop another route to supply Australian wool to the regions with cooler climates.
On the other hand, the Vietnamese manufacturers are also showing interest in the project because of the possibility of producing quality products, which will ensure better buyers, margins and profits in the future.
Established in 2001, AWI initiates, commissions and delivers research and development to Australian woolgrowers and provides trade development and market intelligence services. Its role is to provide the Government with economic and social data to support Australian representations to other nations.

Fibre2fashion News Desk - India

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