Vietnam is seen rapidly improving its supply chain for locally made garments and taking part in more free trade agreements with increasing number of overseas buyers are sourcing products from the country. Pham Thiet Hoa, director of the HCM City Investment and Trade Promotion Centre (ITPC), speaking on the occasion of the business-to-business fashion trade show which wrapped up in Hong Kong on October 31 said that the availability of a young, skilled labour force is also attracting foreign buyers to the country.
As many as 27 leading Vietnamese manufacturers of garments, textiles, fashion accessories and garment-related industries displayed their products at the Global Sources Fashion Show showcasing quality garments, textiles, and products and services from fashion-related industries.
ITPC is supporting most of the Vietnamese pavilions as part of its mission is to help HCM City businesses and attract foreign investment to Vietnam.
Hoa said that as Vietnam is becoming a more attractive complementary garment sourcing destination for overseas buyers, they are seeing an increasing number of multinational firms from Taiwan, Hong Kong and Singapore making not only completed finished clothes, but also buying fabrics, textiles, yarns, plastics, printing and other accessories.
They are also looking to expand their production capacity in Vietnam and are shifting their production bases to Vietnam to enjoy tax incentives and other advantages.
Vu Ngoc Khiem, chief representative of Global Sources, said that in collaboration with ITPC, they have created a one-stop shop sourcing platform, for yarns and fabrics to completed clothes, from labels and tags and interlining fabrics to textiles and fashion bags, hats, caps and jewelry, so that buyers can meet businesses offline.
According to Khiem, Vietnamese exhibitors have improved their manufacturing capabilities and expanded markets, finding new business buyers and growing exports. Vietnamese-made garments can be alternatives to Chinese suppliers.
The idea of their show is to help their buyers get in front of Vietnamâ€™s top-quality export manufacturers at one trade-show floor where decision-makers can meet and negotiate trade possibilities.
They have seen a trend where many export orders are shifting to Vietnam not only because China is heading toward more sophisticated higher-value manufacturing industries but also because Vietnamese makers have stepped up to a new level of FOB export capabilities, and are more ready to compete with rivals via differentiation and excellent services, not just cost advantages anymore
Many of Vietnamâ€™s products will be featured during the fashion parade and at the New Market Pavilion.
According to Pham Minh Huong, director of the Vietnam National Textile and Garment Group (Vinatex), this is the third B2B tradeshow that Vinatex has exhibited with Global Sources. Vinatex aims to show buyers theirr wide range of production scale from small to mass production, and their one-stop sourcing house for buyers, from woven to knit items, with their developing ODM services.
The four-day tradeshow hosted 1,800 booths of accessories, fabrics and apparel from Vietnam, China, the Republic of Korea, India and the Philippines.
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