VTG - Vietnam Int`l Textile & Garment Machinery Exhibition | Global Trade Show | CENS at Trade Shows

Event Profile For the 8th time in Ho Chi Minh City, VTG2008, Vietnam International Textile & Garment Machinery Industry Exhibition successfully ended on Dec 14, 2008, more than 185 exhibiting companies from 20 countries displaying latest technology and trends; the event attracted more than 11019 professional buyers and visitors attending the event. VTG2009 will be hosted on Nov. 05 – 08 in the prestigious SECC Saigon Exhibition & Convention. Prospects for the Textile and Garment Industry in Vietnam Vietnam`s textile and garment industry has developed rapidly in recent years and has become a vital activity within the country`s economy. In 2004 it employed 2.1 mn people directly, representing 4.7% of total employment within the country. The industry has a number of leading textile and garment enterprises. One of the largest is the state-owned Vinatex, which accounted for an estimated 22% of Vietnamese textile and garment exports in 2006. One of Vinatex`s affiliates, Viet Tien Garment Company, has invested more than US$10 mn during the past five years in order to upgrade its production lines. Most of this new equipment has been imported from Japan and Singapore. Also, in 2006 the sector exported textiles and garments to the value of US$5.8 bn, making it Vietnam’s second largest export earner after crude oil. Buyers from a number of the world`s leading textile and apparel companies have sourced apparel from Vietnam including Express, Hucke, Itochu, JC Penney, Jupitar, Kmart, Kowa, Lee Cooper, Li & Fung, Mast Industries, Nichimen, Nissho Iwai, Otto, Sara Lee, Seidensticker, Sumitomo, Tomen, Tommy Hilfiger, Victoria`s Secret, and Wal-Mart. Three major developments over the past 20 years have led to the industry`s present vibrancy. One was the introduction in 1986 of the so-called Doi Moi economic reforms which notwithstanding the government`s communist leanings gave encouragement to the private sector and allowed market forces to determine the allocation of resources. A second was the collapse of the Comecon (Council for Mutual Economic Cooperation) bloc in 1990-91 and that of the Soviet Union in 1991. These events caused initial hardship but prompted the country to forge links with the West and enter the international community. The third was the granting by the USA of normal trading relations (NTR) or most favoured nation (MFN) status in December 2001, which led to a dramatic reduction in import tariffs in the US market. The future for the textile and garment industry in Vietnam looks promising. Vietnam joined the World Trade Organisation (WTO) at the beginning of 2007 and seems set to build upon its recent export success. Moreover, the Vietnamese government is highly supportive of the textile and garment sector, and there are strong incentives to attract foreign investment. The government has outlined ambitious plans for the industry`s development. If these plans are fulfilled, employment and exports in the sector will double by 2010.

VTG - Vietnam Int`l Textile & Garment Machinery Exhibition

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