During the event, foreign groups and leading economists will share information on the international garment and textile market, the size of Vietnam’s garment and textile industry and its market, the world trend, and global supply chain of leading trademarks.
During the event, the participants will conduct a fact-finding tour at Rang Dong Industrial Park in the northern province of Nam Dinh to assess the favourable investment climate given to investors.
Vietnam’s garment and textile industry has rapidly developed recently and become a world’s leading garment and textile exporter besides China, India, Turkey and Bangladesh.
Last year, the industry’s export turnover surged nearly 17% to US$24.5 billion and its products have been exported to 180 nations and territories.
With more than 4,000 businesses operational, the country’s garment and textile industry has generated 4.5 million jobs. The industry is expected to enjoy preferential tariffs from the signing of Free Trade Agreements (FTAs).
Le Tien Truong, Vice President of the Vietnam Textile and Apparel Association (Vitas) said local businesses have seized opportunities to expand market and attract foreign investment.
After nine years of joining the World Trade Organization (WTO), Vietnam’s share in the US garment and textile market has increased constantly from 3% to 10%, only after China.
Last year, Vietnam’s garment and textile export revenue achieved an impressive growth in major markets with 17% in Europe, 12.5% in the US, 9% in Japan and 27% in the RoK.
This year, Vietnam aims to earn US$28.5 million from garment and textile exports.