Vietnam Textile and Garment Industry : Lucrative Market for Investment

Submitted on July 14, 2010 by 65 views

Vietnam has been enormous market for textile and garment industry for centuries including the hand made work such as embroidery, laces manufacturing and silk weaving.
There were lot many province of Vietnam in ancient world, were engaged into manufacturing different kind of fabrics, like cotton, polyester, silk or nylon which was manufactured to exported to China.

Although lot of villages have not disappeared with time and some of the traditional villages such as Van Phuc, Trieu Khuc, Meo Village are still earning their living by developing various textile and garments for china, Honk Kong, Japan and other quite lot number of European countries.

In past one decade, the Vietnam textile and garment industry has picked lot of growth and their product has great demand in European market. Its success story started from 1990 and by the decade end it picked the 128.5% growth, where as figures indicate that it is only textile and garment industry which contributes to about 10% of total industrial output.

Major focus is on export market and catering to the demand of European countries, Asian countries and America; although with this prime focus they are unable to satisfy the domestic demand. The industry prime focus is to produce 100% cotton weaved and knitted  products, 100 % synthetic fiber and also produce Denims.

In terms of Garments and accessories Vietnam market excel in intimate apparels for both men and women, home furnishing such a curtains, bed sheets, carpets and blankets.

Also they excel in manufacturing of sports wear. Hence when it comes investment or engaging into garment business Vietnam market has quality and low priced material to offer.

In addition, there is one sphere where scope for business lies that is textile chemicals. Since Vietnam has number of processing unit but for dyeing substances and finishing chemicals they are bound to depend upon other countries.

There is estimated growth of between 5% and 10% per annum. Although China is competitive in manufacturing the textile chemicals but in this area it is still dominated by European and Japanese Suppliers. Hence with appointment of appropriate agents and technical persons one can establish great market for their products in South Vietnam and North Vietnam.

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  garment industry in Vietnam, tips for investment in vietnam, Vietnam market, Vietnam Textile Hub,

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