Home / Knowledge / News / Textiles / Vietnam's textile dyeing sector needs $15 bn investment
Vietnam's textile dyeing sector needs $15 bn investment
28
Mar '16
Even as Vietnam's textile industry seeks to derive the maximum advantage from the Trans Pacific Partnership (TPP), the sector is grappling with low labour productivity and a serious shortage of textile and dyeing materials. According to one estimate, the dyeing sector needs a massive investment of $15 billion.

Le Tien Truong, general director of the Vietnam Textile and Garment Group (Vinatex) pointed out that in 2015, Vietnam exported $27.5 billion of garment-textile products but it had to spend $14 billion to import raw materials.

“Thus, Vietnam needs to overcome the problem of input raw materials," Truong said at a seminar on Vietnam's garment industry at Ho Chi Minh City.

The Vinatex CEO also highlighted the massive difference in investments in different branches of the textile industry in Vietnam.

He pointed out that only $3,000 is needed to invest in a position of garment worker (people and technology) but up to $200,000 for a fibre or dye worker.

That makes it extremely difficult for small and medium enterprises to invest in the textile and dyeing industry. Vietnam needs up to $15 billion of investment in the industry, he said.

"This figure is really a challenge for local businesses. So when the market opens, the arrival of foreign investors is unavoidable. So, to ensure healthy competition, the State needs to manage the market properly, with strict legal institutions in both technology and environmental protection,” Truong said.

He also urged local businesses to work closely together to create an overall value chain.

Professor Hansjörg Herr from the Berlin School of Economics said Vietnam should create an environment for coordination between the authorities and enterprises to enable enterprises to have quick access to creative economy. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 14th Aug 2020

Cambodia prepares to face upshot of partial EBA withdrawal

As the preferential treatment Cambodia enjoyed under the European...

Pic: USDA/FAS

Textiles | On 14th Aug 2020

India & Brazil push world cotton stocks to high level

World cotton stocks remain high as the Minimum Support Price (MSP) in ...

Pic: Shutterstock

Apparel/Garments | On 14th Aug 2020

Apparel production in Vietnam fell by 4.6% YoY in Jan-Jul

In the first seven months of this year, textile production in Vietnam ...

Interviews View All

Poojaa Kumar Deepak, Zeven

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Textile Industry, Head honchos

Textile Industry
Head honchos

Social media critical in regeneration of businesses

Anvita Mehra, Confidential Couture

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Paolo Crespi,

Paolo Crespi

Japan's Epson, a leader in digital textile printing, Italy's For.Tex, a...

Devendra Gupta,

Devendra Gupta

Reforce, a start-up based in Gurgaon, aims to revolutionise the fitness...

Yariv Bustan,

Yariv Bustan

Founded in Israel in 2015, Twine Solutions is a tech start-up that has...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Sanjay Raut, Garware Technical Fibres Ltd

Sanjay Raut
Garware Technical Fibres Ltd

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

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

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

Leave your Comments


August 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search