Opportunities for the textile industry to participate in the global production chain

Thanks to efforts to diversify export markets and the effectiveness of trade promotion activities, the textile and garment industry has a great opportunity to participate in the global production chain.

Developing the textile and garment industry while protecting the ecological environment.

According to the Ministry of Industry and Trade , in recent years, Vietnam's textile and garment industry has made strong strides and is increasingly playing an important role in the growth of the economy. Among all current industrial export items, textiles and garments have high export turnover and growth rates – one of the key export sectors, playing a crucial role in the growth of the economy, accounting for 12-16% of the country's total export turnover.

After more than 17 years of joining the World Trade Organization (WTO), Vietnam's export turnover has increased nearly eightfold compared to the time Vietnam officially joined the WTO (from US$48 billion in 2007 to a peak of US$371.85 billion in 2022). In addition, the textile and garment industry currently employs over 2 million industrial workers, accounting for over 10% of the country's total industrial workforce. Thus, the textile and garment industry plays a crucial role, not only contributing to the country's third-largest export turnover but also helping to stabilize social welfare.

Total export turnover of the textile and garment industry is estimated to reach 44 billion USD in 2024, an increase of 11.26% compared to 2023. Photo: D.N.

In 2024, amidst a continuing complex global situation, Vietnam's textile and garment industry maintained impressive growth. Accordingly, total export turnover is estimated at US$44 billion, an increase of 11.26% compared to 2023; import turnover is estimated at US$25 billion, an increase of 14.79%; and the trade balance showed a surplus of US$19 billion, an increase of 6.93% compared to 2023.

The industry's main export markets all showed impressive growth, with the United States leading the way, estimated at $16.71 billion, up 12.3% compared to 2023 and accounting for 37.98% of total export turnover. Exports to Japan are estimated at $4.57 billion, up 6.18%; the European Union (EU) at $4.3 billion, up 7.66%; South Korea at $3.93 billion, up 10.36%; China at $3.65 billion, up 1.76%...

In order to support the textile and garment industry in accessing technologies and trends occurring worldwide, in line with the orientation and contributing to the achievement of specific goals for the industry, the Ministry of Industry and Trade advised and submitted to the Prime Minister for promulgation Decision No. 1643/QD-TTg dated December 29, 2022, on approving the Strategy for the Development of the Textile, Garment and Footwear Industry until 2030.

The document outlines the development perspective for the textile and garment industry: Exports will continue to be the main and important driving force for the industry's development and growth; diversifying export markets and maximizing the development of the domestic market; increasing the localization rate and enhancing the added value of Vietnamese textile and garment fashion products. Simultaneously, the development of the textile and garment industry will be linked to environmental protection; fulfilling social obligations and responsibilities, ensuring compliance with sustainable development goals and international commitments. The development of the textile and garment industry will align with Vietnam's industrial development strategy and orientation; be consistent with the development of related economic sectors; and be linked to international integration and the Fourth Industrial Revolution.

To implement the goals and directions of the Textile and Garment Industry Development Strategy, in 2025, the Ministry of Industry and Trade has been coordinating with textile and garment industry associations in developing a Sustainable Development Plan for the Textile, Garment, and Footwear Industry. This plan will include proposals for policies to help textile and garment businesses transition their production to green and sustainable models.

Elevating Vietnam's position as a leading textile and garment manufacturing hub.

Amidst volatile international geopolitical and trade conditions, high inventory levels, a significant decline in demand for goods in general, and textiles in particular, coupled with rising raw material and fuel costs, Vietnamese textile and garment businesses are facing several difficulties in finding and maintaining markets and securing raw material supplies.

To boost exports for the textile and garment industry, representatives from the Trade Promotion Department (Ministry of Industry and Trade) announced that, following the success of the Vietnam International Textile and Garment Technology Exhibition - VIATT 2024, from February 26-28, at the Saigon Exhibition and Convention Center (SECC), District 7, Ho Chi Minh City, the Trade Promotion Department will continue to cooperate with Messe Frankfurt Group (Germany) to organize the Vietnam International Textile and Garment Technology Exhibition - VIATT 2025.

The Vietnam International Textile and Garment Technology Exhibition - VIATT 2024 attracted the participation of many domestic and international partners. Photo: TH

VIATT 2025 attracted the participation of over 400 exhibitors with more than 500 booths across an area of ​​15,000 m². VIATT 2025 showcased a range of products and solutions covering the entire textile and garment sector, including fabrics and garment accessories, yarns and fibers, clothing, civil textiles and processing, industrial textiles, nonwoven fabrics and textile equipment, certification services and textile solutions…

"This important trade promotion event helps enhance Vietnam's position as a leading textile and garment manufacturing hub and provides opportunities for textile and garment businesses from ASEAN countries, Europe, and other regions," said a representative from the Trade Promotion Agency.

According to the Trade Promotion Agency, this year's exhibition focuses on future trends in the industry, with the introduction of the Econogy zone (sustainable development area); and the Innovation and Digitalization Solutions zone, emphasizing the industry's transformation towards sustainability and technological innovation.

This year, the exhibition attracted strong participation from international exhibitors, particularly national/regional pavilions from India, Japan, South Korea, Pakistan, Taiwan (China), and Thailand, along with the first-ever launch of the European pavilion at the exhibition.

Some notable exhibitors from Europe include: Bossa Ticaret Ve Sanayi Isletmeleri TAS (Türkiye), Chargeurs PCC Asia Limited (France), Hohmann GmbH & Co. Kg, Homeplus (Germany); Technical Absorbents Ltd (UK), Alumo AG (Switzerland)…

A highlight of VIATT 2025 is the Vietnam National Brand pavilion. This is where businesses that have achieved the Vietnam National Brand status can promote their products, seek partners, and demonstrate their leading role in the textile and garment industry. With the participation of numerous businesses from Europe and Asia showcasing diverse textile and garment products, VIATT 2025 is expected to further enhance its position as a leading destination for textile and garment buyers in the ASEAN region.

Source: https://congthuong.vn/co-hoi-nganh-det-may-tham-gia-chuoi-san-xuat-toan-cau-373994.html