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Garment sector lacks local suppliers
The textile and garment sector needs to invest in support industries to boost production and competitiveness, said an official from the Viet Nam Textile and Garment Group.
Le Tien Truong, the group's Deputy General Director, said the sector's export value would reach US$11-$11.2 billion this year, 23-24 per cent higher than last year. However, he said the sector relied heavily on imports of raw materials.
Truong said the sector should focus on making garments from raw materials it had produced, he said.
After 15 years of development, he said, the textile and garment sector was still failing to focus on every step of the production process, from raw materials to finished goods.
He said a facility that had good transport links needed to be built a water source and access to highly skilled workers that could supply raw materials to garment factories nationwide.
The sector is now looking for locations suitable for producing fibre, weaving and dying cloth and producing finished garments.
For the fifth month running, the sector in November earned $1 billion in exports, bringing the total for this year to $10.36 billion.
The US accounted for 50 per cent of Vietnamese garment exports in the first 11 months, worth $5 billion. The next biggest markets were the EU and Japan.
Garment exports to South Korea increased 70 per cent year-on-year to $300 million in the first 11 months of this year. The increase was attributed to the fact that the export price rose 12-15 per cent against the same period last year.
vietnamnews
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