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How Vietnam Leaps into a Big Textile Export Country with Lack of Textile Material

How Vietnam Leaps into a Big Textile Export Country with Lack of Textile Material

News Center
Release time:
2019/02/25 11:11
As we all know, Vietnam as a textile raw material scarce country, if it ranks among the big textile countries? Why can it attract major textile enterprises to develop production bases in China, which is also a big textile country, why do the big factory textile heroes all come to Vietnam to open up textile territory?
For China, Vietnam's textile industry is not dominant. Whether in textile technology or raw material production, the technical difficulty coefficient of special yarn and differential yarn samples in China is much higher than that of pure cotton. In terms of textile raw materials, China, as a big cotton producer, will produce 5.111 million tons of cotton in Xinjiang in 2018. But in China, with the improvement of numerical industry, cotton demand and market digestion will increase, labor and production costs will continue to increase, some large textile enterprises began to shift the focus of production plants to Southeast Asian countries with lower labor and production costs, so Vietnam has a sharp edge in marketing.
According to data provided by Vietnam Cotton Yarn Association, Vietnam's cotton imports in 2018 totaled 1.58 million tons, with a value of $3.111 billion, up 21% and 27.5% respectively from the same period last year. In 2018, Vietnam imported 103.48 million tons of cotton yarn with a value of $2.419 billion, up 17.8% and 32.8% respectively from the same period last year. Yarn exports amounted to 14.76 million tons and $4.025 billion, up 9.6% and 12.0% respectively from the same period last year. (Source: China Textile Daily)
Vietnam's cotton imports have increased steadily in recent years. With the gradual shift of the focus of China's textile industry, Vietnam's textile output has also increased. And the largest textile enterprise in Vietnam, China, has come here to invest in Tianhong Textile Group, which has transformed from a cotton yarn manufacturer into an integrated textile enterprise in the industrial chain. If the whole industry chain strategy succeeds, Tianhong Textile will become one of the most competitive textile and apparel suppliers in the world. Its textile industry park will easily seize textile and apparel orders from mainland China and lay a long-term competitive advantage.
The Comprehensive Progressive Trans-Pacific Partnership (CPTPP) entered into force in Vietnam on January 14, 2019. The impact of CPTPP on Vietnam's economy depends largely on Vietnam's ability to seize opportunities and overcome challenges. CPTPP gradually abolished 98% tariffs on agricultural and industrial products, relaxed investment regulations and strengthened the protection of intellectual property rights. Joining CPTPP has brought Vietnam an unprecedented market, "Made in Vietnam" or become the biggest winner. (Source: China Cotton Net)
Vietnam is a "new star country" in the textile industry. The control of raw material import and the process of downstream grey fabric products are not very mature. But in recent years, the development is relatively rapid. I want to know how attractive the cheap labor force is to the market. But national policy guidance is more important, and actively learn textile technology to stabilize its development.