Vietnam's textile and garment export market has experienced unprecedented growth, according to VITAS.
DNHN - Mr. Vu Duc Giang, Chairman of Vitas, stated that Vietnam has exported garments and textiles to 104 countries and territories, more than at any other time of year.
The Vietnam Textile and Apparel Association (Vitas) organized a press conference on November 23 in Hanoi to provide information regarding the Vitas 2023 Summary Conference. Mr. Vu Duc Giang, Chairman of Vitas, provided an abundance of information regarding the production and export situation of industry businesses and made numerous projections for 2024 during the press conference.
According to a report by Vitas, the market breakthrough stands out as the most notable aspect of the industry's less-than-stellar performance this year. "Never has Vietnam exported textiles and garments to as many markets as this year, to 104 countries and territories," stated Vu Duc Giang. With over 11 billion USD, the United States remains the leading market for textile and garment exports from Vietnam; Japan follows with approximately 3 billion USD; Korea contributes 2.43 billion USD; and the European Union contributes nearly 2.9 billion USD. These are four significant textile and garment markets in Vietnam.
Businesses have significantly evolved in terms of their product offerings, incorporating a greater variety of 36 garment products, including workwear, suits, medical attire, and jeans, which are experiencing rapid growth. By diversifying its customer base, products, markets, and business partners, the textile and garment industry in Vietnam advances its efforts to decrease reliance on sizable markets.
Additionally, Mr. Vu Duc Giang disclosed that Vitas will maintain its alliance with businesses, with a particular emphasis on the concerns and welfare of the textile and garment industries. In particular: Effectively facilitate the connection between domestic enterprises and foreign-invested enterprises to expand export markets and establish supply chains; collaborate with esteemed international organizations to execute business support initiatives about design, branding, green transformation, governance, and new technologies; Implement domestic and international trade promotion programs to facilitate the exchange and promotion of business images among Vietnamese enterprises; provide members with timely updates on the country's and the world's industries, economies, and societies.
As per Mr. Vu Duc Giang, orders to businesses improved in the fourth quarter of 2024, which bodes well for the coming year 2024. The textile and garment industry in Vietnam sets its sights on achieving an export turnover of 44 billion USD by 2024.
To attain this objective, the diversification of export products and markets remains a critical solution. Simultaneously, the sector persists in the execution of sustainable development objectives, accommodating the demands of the international market regarding environmental friendliness and greenhouse gas reduction, while placing significant emphasis on substantial investments in boiler systems. electrocautery and digital administration.
Assemble industrialization and automation investment strategies, with a particular emphasis on allocating resources towards a multitude of production lines to satisfy the demands for rapid delivery, minimal product codes, and superior quality. Concentrate on the growth of the fashion industry, the establishment of domestic brands, and their international expansion. Create personnel with expertise in fashion design who are adaptable to 3D design technology.
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