Vietnam
textile and garment industry comprises of two major parts: textile and garment.
The textile sector includes shuttle weaving, fiber spinning, dyeing and finishing.
The garment sector uses the core material as fabric and some other accessories
for instance thread, button, lace, etc., through cutting, designing, and using
the sewing machine to make the final garment. The textile and garment
enterprises are businesses functioning in the
field from weaving,
spinning, dyeing, and finishing
fabrics to materials
such as laces, buttons, cutter, thread, auxiliary equipment and final products. Labor
is one of the central factors of production & business in the textile and
garment industry and is reflected in both the quality and quantity of labor.
The industry is characterized by manual processes and labor intensive.
Therefore, the training of human resources is pivotal for the sustainable
development of the textile and garment industry in Vietnam.
Based
on product type, Vietnam textile and garment industry is segmented into
pants & shirts,
skirts, jackets, t-shirts,
children's clothing and other products
for instance vest clothes, swimwear towel and sweaters. Based on mode of
production, market is segmented into dyeing/finishing, spinning, and fabric
(brand, raw material sourcing, cutting/sewing design, and
distributing/marketing). Marketing segment is further sub-segmented into
cut-make-trim (CMT), ODM (original design manufacturing), OEM/FOB (original
equipment manufacturing) and OBM (original brand manufacturing). Based on
distribution channel, market is segmented into supermarkets, trade centers and
retail stores.
The
Vietnam textile and garment industry market is driven by growth in improvement
in living standards & social stability, followed by rise in demand from
domestic & foreign markets, better labor productivity and growth in improvement
of capacity in business management, quality management, sample design and trade
promotion. However, limited management skills and unsuitable marketing capacity
with production capacity may impact the market. Moreover, rise in development
of technical textiles & textile products for medical purposes and growth in
production of fabrics for export are key opportunities for market. Furthermore,
rise in investment projects to produce yarns, weaving; dyeing is a major trend
for market.
Based
on geography, the Vietnam is vastly connected to China on the northern side,
which makes the supply of raw materials moderately easy for manufacturing. In
Vietnam country, the textile and garment industry is one of the key industries
that contribute great value to Vietnam’s exports and Gross domestic Products
(GDP) as well as solving employment. The textile manufacturing industry of
country is on the rise owing to rise in free trade agreements corresponding the
historic comprehensive and progressive agreement for trans-pacific partnership.
Additionally, the foreign companies are turning to Vietnam country to leverage
its low labor costs and proximity to significant markets, which makes it an
ideal hub for textile manufacturing. In near future, it is estimated that the Vietnam
textile and garment industry will be reached at rapid pace as a result of rise
in development of cotton
fiber resources, artificial
fibers and auxiliary
materials during the forecast period.
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