Vietnam is now among the 10 biggest apparel exporters in the world, the Biella (Italia) Chamber of Commerce announced in its working session in HCM City several days ago.
Vietnam
is now among the 10 biggest apparel exporters in the world, the Biella (Italia) Chamber of Commerce announced in its working session in HCM City several days ago.
Spectacular jump
With the growth rate of 30% and the expected export turnover of $7.5bil in 2007, Vietnam has made a spectacular jump from 16th on the list of the world’s biggest apparel exporters.
Vietnam has set the target of exporting $10-12bil worth of apparel products by 2010 and using 50% of locally supplied materials. If successful, this will help cement Vietnam’s position as one of the biggest apparel exporters in the world.
The figures are expected to increase to $20-22bil and 75% by 2020.This is an extremely ambitious plan as Vietnam has to compete fiercely with other producers, especially developing countries which have the same advantages in labour force and the same production level.
Vietnam now has more than 2,000 garment companies, which use more than 2mil labourers and make $1.8bil worth of apparel products, 65% of which are for export.
Textile and garment companies mostly are located in HCM City (1,400), Hanoi and nearby areas (over 300).
The US is Vietnam’s top apparel export market, importing $3bil worth of products every year (55% of exports). The EU is the second-largest importer with $1.2bil (20%), followed by Japan, ASEAN, Canada and Russia.
Opportunities biggest than ever
Returning from negotiations with partners, Nguyen Son, Deputy Secretary General of the Vietnam Textile and Apparel Association, said that Vietnam gained the growth rate of 30% in the first nine months of the year, while countries in Central America and Mexico saw sharp decreases in exports due to quota cuts.
Therefore, US importers will make deals with countries which can provide high-quality products at competitive prices and ensure delivery time.
“Vietnam is the choice of US importers, and orders will fall to Vietnamese enterprises when other countries are facing quota cuts,” he said.
(Source: Tien phong)
