VietNamNet Bridge – PM Nguyen Xuan Phuc, at a conference held in late December, said the localization ratio in the textile and garments, and footwear industries, has risen to 40-45 percent. The localization ratio in textile & garment industry has risen to 40-45 percent Experts all agree that poor supporting industries are the major reason hindering Vietnam from joining global supply chains. However, this is no longer true in the textile and garment industry. Vietnam has made a big leap in developing textile and garment supporting industries thanks to the government’s policy and enterprises’ hectic preparations for Free Trade Agreements, which set high requirements on the origin of products. The HCMC-based Hung Xuong Chemicals has obtained Bluesign, an European certificate on environmentally friendly products and workplace safety, which is considered a solution for sustainable textile production. RELATED NEWS Garment manufacturers feel pressure from foreign fashion brands Vietnam competes with China to become top garment exporter in South Korea Kim Chi
Leave a Reply