On February 28, in Ho Chi Minh City, 500 booths from 16 countries and territories attended the Vietnam International Textile and Garment Industry and Textile Technology Exhibition - VIATT 2024.
This is a regional international trade exhibition in Vietnam in the specialized fields of fibers, fabrics and textile accessories, garments, home textiles, textile technology and sewing machines, chaired by the Ministry of Industry and Trade and assigned to the Trade Promotion Agency to coordinate with Messe Frankfurt Group (Germany).
Speaking at the opening ceremony, Deputy Minister of Industry and Trade Phan Thi Thang assessed that in recent years, Vietnam's textile and garment industry has made strong progress and is increasingly playing an important role in economic growth. Among all current industrial export products, textile and garment is the industry with high export turnover and growth rate and is one of the key export industries, playing an important role in economic growth, accounting for 12 - 16% of the country's total export turnover.
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| Deputy Minister of Industry and Trade Phan Thi Thang delivered the opening speech at the exhibition. |
According to Deputy Minister Phan Thi Thang, after more than 15 years of joining the World Trade Organization (WTO), Vietnam's textile and garment export turnover has increased nearly 6 times. In addition, the textile and garment industry currently employs more than 2 million industrial workers, accounting for over 10% of the country's industrial workforce. "Thus, the textile and garment industry plays an important role, not only bringing in the country's third largest export turnover but also contributing to stabilizing social security," Deputy Minister Phan Thi Thang emphasized.
Statistics show that in 2023, textile and garment exports reached 40.3 billion USD, down 9.2% compared to 2022. However, the highlight of the textile and garment industry in the past year was the breakthrough in the market. In addition to the traditional markets of the US, Japan, Korea, EU, Vietnam has exported a significant amount of textiles and garments to Canada, China, UK, Australia, Russia, Indonesia, Thailand, Hong Kong (China), India, etc.
In 2024, the textile and garment market has shown signs of improvement compared to 2023. As of February 15, 2024, Vietnam's textile and garment export turnover reached 4.9 billion USD (up 17% over the same period in 2023). Currently, many factories have started operating at the beginning of the year with a high rate of workers returning to work. The textile and garment industry strives to achieve an export turnover of 44 billion USD in 2024, an increase of 9% compared to 2023.
However, in the context of geopolitical and international trade fluctuations, high inventory levels, serious decline in demand for goods in general and textile products in particular, and high costs of raw materials, Vietnamese textile and garment enterprises are facing some difficulties in finding and maintaining markets and finding sources of raw material supply.
To overcome the above difficulties, Vietnamese textile and garment enterprises need to increase in-depth development, proactively seek and participate in the global textile and garment supply chain, especially focusing on stages that bring high added value such as design, production of input materials, especially fabrics, developing distribution systems, and gradually moving to a higher position in the production chain.
In order to support textile and garment enterprises in finding customers and markets, in 2024, the Ministry of Industry and Trade has been coordinating with the Textile and Garment Associations in developing a sustainable development plan for the textile and garment - footwear industry. This will include proposed policies to help textile and garment enterprises to transform production to a green and sustainable model.
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| Delegates cut the ribbon to open the Vietnam International Textile and Garment Industry and Textile Technology Exhibition - VIATT 2024. |
By connecting textile and garment companies from all over Asia, Europe... and implementing a textile and footwear development strategy, today, February 28, 2024, the Ministry of Industry and Trade coordinated with Messe Frankfurt Group (Germany) to organize the Vietnam International Textile and Garment Industry and Textile Technology Exhibition - VIATT 2024.
Held for the first time in Vietnam, VIATT 2024 is expected to create favorable conditions for textile and garment enterprises in Vietnam to participate in trade connections with international enterprises, participate in the production chain of global textile and garment companies, forming links throughout the value chain from raw material and accessory production to final products. At the same time, it encourages major brands in the world to transfer technology, management experience and participate in the process of developing raw material and accessory supply sources to form a domestic supply chain.
The textile and garment industry will also have access to modern and advanced EU technology, as well as attract investment and support projects to promote green production transformation, helping Vietnamese goods meet EU standards.
From there, meeting the rules of origin required by new generation free trade agreements, increasing product added value, contributing to promoting the Vietnamese textile and garment industry to develop in the direction of green and sustainable development in the world.
Mr. Detlef Braun - Member of the Executive Board, Messe Frankfurt Group (Germany), said that Vietnam is currently an emerging destination in the textile and garment industry. This is also a potential destination for Messe Frankfurt Group. "Together with the Ministry of Industry and Trade and partners, Messe Frankfurt hopes to continue to expand this exhibition in the future," Mr. Detlef Braun expressed.
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