International Textile and Garment Industry Exhibition Attracts Foreign Enterprises | Company

Speaking at the opening ceremony, deputy head of the trade promotion department of the Ministry of Industry and Commerce, Le Hoang Tai, pointed out that the textile and garment industry is the one of the three key sectors of the country in terms of export with a turnover of 40 billion US dollars on average. Since the beginning of the year, the sector’s total export turnover has gained 23 billion dollars, up 23% compared to the same period last year.

In addition, the sector plays a vital role in stabilizing social protection, creating jobs for a large number of employees with an income two or three times higher than the income from work in the agricultural sector.

In the coming period, the sector faces difficulties when the added value of textile products is low and the country has to depend on the materials and does not meet the requirements of supply chains bringing high value with low production per compared to countries in the region and moderate technological competence.

According to the organizing committee, the expo attracted enterprises from countries and territories with advanced textile industries, including Germany, Greece, China, Taiwan (China), Japan, Republic of Korea, etc. .

Therefore, the exhibition is a chance for local enterprises in different fields of textile production to exchange with foreign partners to seek expanded markets and partnerships and guide investment in the coming times and strive to achieve the export turnover target of 70 billion dollars. in 2030 and create 1.5 million additional jobs for the sector.

The event was organized by the Ministry of Industry and Trade and relevant units.

By Ai Van – Translated by Huyen Huong

Michael O. Stutler