Vietnam fast becoming a favourite of global
Vietnam is all set to become the favourite manufacturer of
globally renowned fashion brands, mainly owing to the many free
trade agreements (FTAs) signed by the country recently.
While confirming on the same, Pham Thiet Hoa, Director, Ho Chi
Minh City Investment and Trade Promotion Centre, said that
several international brands are now buying apparels from
Vietnam as there was a significant improvement in the supply
chains for locally manufactured products.
He further added that competitive pricing along with
preferential policies gave Vietnam an edge over all the other
In the recently concluded Global Sources Fashion Show in Hong
Kong, over 30 local manufacturers from Vietnam had showcased the
best of their garment, textile and handicraft items, which had
generated good response.
In fact, a lot of these Vietnamese manufacturers are expecting
big orders from brands such as Li & Fung, Target, Marks &
Spencer, Tesco, Swarovski, K-Swiss, among several others.
Besides, the FTAs signed with European Union (EU) have already
undergone the legal review process and are now just awaiting the
approval of country’s National Assembly in June 2019.
Also, once the Comprehensive and Progressive Agreement for
Trans-Pacific Partnership (CPTPP) becomes fully operational, it
could help Vietnam increase its market share in CPTPP member
nations and make the nation the favourite of every big fashion