| Vietnam's Textile and Garment Industry: Growth and Challenges Vietnam's textile and garment industry accelerates "greening" |
According to the Organizing Committee, textiles and garments are one of the important economic sectors, contributing approximately 12% of the country's export turnover and playing a key role as Vietnam's export industry in recent years. However, most Vietnamese textile and garment businesses are involved in purely processing activities, with the added value and productivity of the industry, measured in terms of added value, remaining very low compared to developed textile and garment countries such as China and India.
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| Vietnam Textile and Garment Industry Conference 2045: Where Green Growth Meets Productivity. Photo: Hai Linh |
There are many reasons for this situation, but one of the main factors leading to low added value is the limited application of technology and innovation in the textile and garment industry. At the same time, the increasing demands of export markets for green production and social responsibility also pose a challenge for the Vietnamese textile and garment industry today.
In his opening remarks at the workshop, Mr. Hoang Xuan Hiep from Hanoi University of Textile and Garment also stated that over the past three years, the textile and garment industry has faced many opportunities but also numerous challenges, particularly the volatile global demand for textiles and garments. In this context, the Vietnamese textile and garment industry is competing with export rivals that possess many advantages, such as Bangladesh, Cambodia, and Myanmar. This forces domestic textile and garment businesses to increase their competitiveness to maintain and expand their market share.
“ To achieve that, we need to know how long Vietnam’s current competitive advantage can last and what factors will help businesses increase their competitiveness sufficiently. Today’s workshop will help businesses find initial answers to this question ,” said Mr. Hoang Xuan Hiep.
Source: https://congthuong.vn/hoi-thao-nganh-det-may-viet-nam-nam-2045-noi-tang-truong-xanh-gap-nang-suat-354203.html
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