Hanoi (VNS/VNA) – An increasing number of overseas buyers are sourcing products from Vietnam as the country is rapidly improving its supply chain for locally made garments and taking part in more free trade agreements.
The availability of a young, skilled labour force is also attracting foreign buyers to the country, Pham Thiet Hoa, director of the HCM City Investment and Trade Promotion Centre (ITPC), said during a recent interview with Vietnam News.
Hoa spoke on the occasion of the business-to-business fashion trade show which wrapped up in Hong Kong on October 31, showcasing quality garments, textiles, and products and services from fashion-related industries.
As many as 27 leading Vietnamese manufacturers of garments, textiles, fashion accessories and garment-related industries displayed their products at the Global Sources Fashion Show.
ITPC is supporting most of the Vietnamese pavilions as part of its mission is to help HCM City businesses and attract foreign investment to Vietnam.
“Vietnam has become a more attractive complementary garment sourcing destination for overseas buyers. We’re seeing an increasing number of multinational firms from Taiwan, Hong Kong and Singapore making not only completed finished clothes, but also buying fabrics, textiles, yarns, plastics, printing and other accessories,” Hoa said. “They’re looking to expand their production capacity in Vietnam and are shifting their production bases to Vietnam to enjoy tax incentives and other advantages.”
Before the show, ITPC worked with Global Sources, a Hong Kong-based B2B media company, to provide effective B2B export marketing workshops to help increase professionalism and buyer-supplier communication among firms.
Vu Ngoc Khiem, chief representative of Global Sources, said: “In collaboration with ITPC, we have created a one-stop shop sourcing platform, for yarns and fabrics to completed clothes, from labels and tags and interlining fabrics to textiles and fashion bags, hats, caps and jewelry, so that buyers can meet businesses offline.”
Vietnamese exhibitors have improved their manufacturing capabilities and expanded markets, finding new business buyers and growing exports, according to Khiem.
Vietnamese-made garments can be alternatives to Chinese suppliers, he said, adding that competitive price points were also important.
“The idea of our show is to help our buyers get in front of Vietnam’s top-quality export manufacturers at one trade-show floor where decision-makers can meet and negotiate trade possibilities.
“We’ve seen a trend where many export orders are shifting to Vietnam not only because China is heading toward more sophisticated higher-value manufacturing industries but also because Vietnamese makers have stepped up to a new level of FOB export capabilities, and are more ready to compete with rivals via differentiation and excellent services, not just cost advantages anymore,” Khiem told Vietnam News.
Many of Vietnam’s products will be featured during the fashion parade and at the New Market Pavilion, according to Khiem.
Analysy’s Choice, the trusted column viewed and evaluated by top buyers, designers and sourcing professionals, has also taken note of many of these products, he added.
Pham Minh Huong, director of the Vietnam National Textile and Garment Group (Vinatex), said: “This is the third B2B tradeshow that Vinatex has exhibited with Global Sources. Vinatex aims to show buyers our wide range of production scale from small to mass production, and our one-stop sourcing house for buyers, from woven to knit items, with our developing ODM services.”
“Our capability of supplying materials in a vertical integrated system impresses buyers,” she said. “Not only is this a good opportunity for us to collaborate with new buyers and see global trends, but it is a chance for buyers to learn about our group and other professional manufacturers from Vietnam at one convenient offline event. We met several buyers face-to-face before the show and we will meet them again to further our discussion in the pipeline.”
The four-day tradeshow hosted 1,800 booths of accessories, fabrics and apparel from Vietnam, China, the Republic of Korea, India and the Philippines.
The on-site Fashion Parade featured many products made in Vietnam, including totes, bags and jewelry. The show offered a unique one-stop shop theme where buyers were enabled to discover Vietnamese manufacturers offering all kinds of garments, textiles, labels, bra cups and fashion accessories.
Other highlights include conference programmes, fashion parades and the Trends Forum, presented by Fashion Snoops and Pantone.
Global Sources is a B2B media company and a primary facilitator of global trade using its integrated online and offline services. In Vietnam, Global Sources helps match buyers and suppliers through offline events.-VNA