Speaking at the opening ceremony, Deputy Head of the Trade Promotion Department under the Ministry of Industry and Trade Le Hoang Tai stressed that the textile and garment industry is one of the country’s three key sectors in terms of exporting with a turnover of US$40 billion on average. From the beginning of the year, the total export turnover of the sector has gained US$23 billion, increasing 23 percent over the same period last year. In addition, the sector plays a vital role in social welfare stabilization, creating jobs for a huge number of employees with an income of twice or three times compared to income of labor in the agricultural sector.
Currently, Vietnam’s textile and garment sector is using around 2.5 million employees with an average income of around US$3,800 per person a year.
In the upcoming time, the sector is facing difficulties when the added value on textile products is low and the country has to depend on materials and does not meet the requirements of supply chains bringing high value along with low production compared with countries in the region and moderate technology competence. According to the organizing board, the exhibition has attracted businesses from countries and territories with the advanced textile industry, including Germany, Greece, China, Taiwan (China), Japan, the Republic of Korea and so on. Therefore, the exhibition is a chance for local businesses in different fields of textile production to exchange with foreign partners to look for widening markets and partnerships and orient the investment in the upcoming time and strive to reach the set target of export turnover of US$70 billion in 2030 and create 1.5 million more jobs for the sector.
The event was hosted by the Ministry of Industry and Trade and relevant units.
