SaigonTex 2017 creates partnership opportunities
An international garment and textile equipment and material exposition – SaigonTex 2017 began in Ho Chi Minh City on April 5, bringing together 1,200 businesses from over 20 countries and territories to seek deals and partnerships.
Illustrative image (Source: Internet)At the opening ceremony, Phan Chi Dung, Head of the Ministry of Industry and Trade’s Light Industry Department, said the expo is annual important event of the country’s garment and textile industry and becomes a reliable destination for local and foreign businesses to find partners.
The event will enable participating producers and businesses to seek extra material supply sources and new technology and equipment to raise their local content and add more value to their products, he said.
Though garments and textiles are among the industries bringing the highest income for Vietnam, the sector has mostly undertaken outsourcing deals and is yet to develop a supply chain, hence its low added value gains.
In 2016, the sector raked in 28.5 billion USD from exports, a rise of 5.2 percent on-year, with its main markets being the US, Japan, and the Republic of Korea.
SaigonTex 2017, the 29th edition, will run through to April 8.-VNA
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