Home / Knowledge / News / Textiles / Vietnamese govt to invest in local supply chain
Vietnamese govt to invest in local supply chain
14
Mar '16
Vietnamese government will strengthen its local supply chain to benefit from the Trans-Pacific Partnership (TPP) pact, according to media reports.

The first industrial park for parts and suppliers like yarns and fibres, threads, leather and other raw materials will open in Ho Chi Minh City by December, 2016.

Currently, garment manufacturers in the country need approximately ten million square metres of fabric and similar products. However, only two million square metres of such products are supplied by the local industry. Rest is imported, mainly from China.

Clothing made with raw materials sourced from non-TPP member countries like China is not eligible for tariff reduction under the 'rules of origin' precondition in TPP. The Vietnamese government will therefore develop the local supply chain in order to better meet the precondition.

The government will invest in local companies to help them raise the standard of their products, which will enable them to compete internationally, and join the global supply chain.

Foreign investments will also be encouraged to develop the local supply chain, as the Vietnamese companies fall short of technology and investments, government officials confirmed recently.

Two industrial zones have come up, one each in Hung Yen province and Nam Dinh province, to attract foreign investors. Two more are planned. (MCJ)

Fibre2Fashion News Desk – India


Must ReadView All

New Investment for traditional Myanmar textiles, weavers

Textiles | On 21st Oct 2018

New Investment for traditional Myanmar textiles, weavers

Myanmar Artisans Co Ltd, Turquoise Mountain and the DaNa Facility,...

Pak knitwear exporters plan environmental compliance

Textiles | On 21st Oct 2018

Pak knitwear exporters plan environmental compliance

Pakistani manufacturers and exporters of knitwear garments have...

Courtesy: Hyosung

Textiles | On 21st Oct 2018

Hyosung converting spandex plants into smart factories

Hyosung TNC, the textile and trading unit arm of Hyosung, is...

Interviews View All

Binoy Ravjani, Hero's Fashion

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Top executives, Textile industry

Top executives
Textile industry

Union budget 2018-19 will have positive impact on apparel industry

Milind Khandwe, Hindoostan Innovation Centre

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Akshat Chaudhary,

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Tom Adeyoola,

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Vikas Banduke,

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Ayyappa Nagubandi, Broadcast Wearables Pvt Ltd

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Luis Quijano, Liberty University

Luis Quijano
Liberty University

Focusing on bold patterns and colour palettes, Luis Quijano, a student at...

Pierre Wiertz, EDANA

Pierre Wiertz
EDANA

EDANA, the international association serving the nonwovens and related...

Yash P. Kotak, Bombay Hemp Company

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

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

Ritu Kumar, Label Ritu Kumar

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

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


October 2018

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

news category


Related Categories:

Advanced Search