Vietnam hopes to develop the upstream textile industry chain
According to Vietnam’s “Industry and Trade News”, for a long time, Vietnam’s textile and garment industry has relied mostly on imported raw materials. The government has formulated a series of preferential policies to encourage domestic and foreign investors to develop upstream industries. However, from the current situation, investors Not enough attention is paid to the upstream industry, and the situation of relying on imported textile raw materials is unlikely to be significantly improved in the short term.
According to reports, Vietnam needs 400,000 tons of cotton every year, but the country can only meet 3,000 tons, less than 1%; it needs 400,000 tons of man-made yarn, but the country can only meet 120,000 tons, about 30%; it needs 6 billion meters of fabric. However, domestic production can only meet 800 million meters, about 13%; the machinery and equipment, chemical products and dyes required for production are completely dependent on imports. To this end, the Vietnam Garment and Textile Association calls on the government to provide greater support to enterprises in terms of policy and financing to promote the development of upstream industries. At the same time, we actively guide enterprises to transform their production methods, gradually shifting from processing with imported materials to FOB (purchasing raw materials and exporting finished products), ODM (from design to production) and OBM (using Vietnamese brands).
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