To survive and beat the slowdown in demand from vital US, UK, and EU Vietnamese markets, the textile and garment industry needs to graduate to produce high-value-added products.
This idea was proffered by Than Duc Viet, Director General of Garment Joint Stock Corporation 10, one of Vietnam’s biggest garment exporters.
Viet added that the goal of clothing exporters should be to create a ‘Vietnamese Brand’ among garment brands and retailers in various countries.
He also advised Vietnamese apparel exporters to take advantage of opportunities from the various free trade agreements (FTAs) that Vietnam has signed with multiple countries and regions.
Viet also suggested these garment exporters establish links with raw material manufacturers to create a complete supply chain.
He added that exporters should actively learn and improve from each other’s production models, finding ways to cooperate and help.
“With the scale of textile and garment Vietnamese enterprises being larger and vertically integrated, buyers are completely confident when giving an order,” he noted.
Viet added that garment brands and retailers are confident because they know they will receive a complete product from spinning, weaving, processing, and sewing in Vietnam.
He also spoke about Vietnamese textiles and garments now being exported to 104 countries, including new markets such as Africa, Russia, and the Middle East.
“This shows that Vietnam’s textile and garment industry has gradually reduced its dependence on its traditional and major export markets,” he observed.