Int’l textile-garment expos to kick off this week in Ho Chi Minh City
Int’l textile-garment expos to kick off this week in Ho Chi Minh City
Two major international exhibitions in the textile, garment, and fabric sectors of Vietnam, namely SaigonTex and SaigonFabric, will concurrently kick off on Wednesday in Ho Chi Minh City, gathering more than 1,300 exhibitors at home and abroad.
These exhibitors come from over 21 countries and regions such as India, Taiwan, the Netherlands, Hong Kong, and the U.S..
They will display a wide range of branded machinery, equipment, parts, and accessories in the fields at 1,700 booths at the four-day events.
The expos will be the biggest of the industry in Vietnam since 1991, with the total floor area being three times last year's scale, at 30,000 square meters, and the number of exhibitors also threefold the 2022 figure.
The trade shows are expected to provide a one-stop market for all buyers in the fields to promote trade and expand their business network.
Statistics from the Vietnam Textile and Apparel Association (VITAS) show that Vietnam exported US$44 billion worth of textile-garment items last year, up 8.8 percent versus that of 2021. The country shipped 55 staple product lines to around 66 countries and territories.
However, the local textile-garment sector has encountered multiple obstacles such as the COVID-19 pandemic as well as the Russia-Ukraine military conflict that sent purchasing power at home and in overseas markets of Vietnam’s top textile-garment importers such as the U.S., Japan, and South Korea declining.
Cao Huu Hieu, general director of Vietnam National Textile and Garment Group (VINATEX), said this year would be challenging for the sector as the global demand for textile-garment products is forecast to fall 6-10 percent from $757 billion to $712 billion, or even to $687 billion.
During the first months of this year, the local sector saw a 2-3 percent decline in the number of orders compared to the same period last year.
To cope with the issue, local businesses need to adopt various measures to ensure their employees get steady jobs, their revenue and profit remain stable, and their operation is cost-effective.
According to Hieu, the SaigonTex expo will help local businesses seek opportunities to invest in new technologies to optimize their production.
The SaigonTex and SaigonFabric 2023, co-organized by Vietnam’s Ministry of Industry and Trade, VITAS, VINATEX, Vietnam Chamber of Commerce and Industry, and others, will take place at the Saigon Exhibition and Convention Center in District 7.
