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Follow on Google News | Prospects for the Textile and Garment Industry in VietnamAlso, 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.
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) 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. Table of Contents Prospects for the Textile and Garment Industry in Vietnam Summary Development of the Textile and Garment Industry in Vietnam Importance of the Textile and Garment Industry to the Vietnamese Economy and Future Expansion Plans Geographical, Political and Economic Profile Infrastructure Industrial Zones Human Resources Structure and Location of the Textile and Garment Industry in Vietnam Textile and Garment Production Production Technology and Machinery Markets Textile and Garment Exports and Imports Foreign Investment Government Policies and Investment Incentives Competitiveness of the Textile and Garment Industry in Vietnam: Strengths, Weaknesses, Opportunities and Threats Future Prospects Directory of Selected Textile and Apparel Companies and Related Organisations in Vietnam For More Information Please Visit : http://www.bharatbook.com/ For any queries or suggestion, please contact us at : Bharat Book Bureau 207 Hermes Atrium, CBD Belapur, Navi Mumbai - 400614 Tel : +91 22 27578668 / 27579438 Fax : +91 22 27579131 Email : info@bharatbook.com # # # Welcome to Bharat Book Bureau- the exclusive Business Information shop.Making strategic decisions that safeguard as well as boost your business is difficult in today’s volatile globalized market. Hence the need to keep abreast and armed with the latest business intelligence related to your specific area of interest and general important issues affecting business. We facilitate and support all your business information needs by providing you with the relevant information materials generated and published by global agencies on Core Industry (Automotive, Insurance, Banking and Finance, Shipping and Marine, Metals and Minerals, Oils and Gas etc.), Country Information, Technical and Management subjects, both in print and electronic format. These include Reports, Newsletters, Country and Company profile etc. Website: www.bharatbook.com End
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