Business

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.
SaigonTex 2017 creates partnership opportunities ảnh 1Illustrative image (Source: Internet)
HCM City (VNA) – An international garment and textile equipment andmaterial exposition – SaigonTex 2017 began in Ho Chi Minh City on April 5, bringingtogether 1,200 businesses from over 20 countries and territories to seek dealsand partnerships.

At the opening ceremony, Phan Chi Dung, Head of the Ministry of Industry andTrade’s Light Industry Department, said the expo is annual important event ofthe country’s garment and textile industry and becomes a reliable destinationfor local and foreign businesses to find partners.

The event will enable participating producers and businesses to seek extramaterial supply sources and new technology and equipment to raise their localcontent and add more value to their products, he said.

Though garments andtextiles are among the industries bringing the highest income for Vietnam, thesector has mostly undertaken outsourcing deals and is yet to develop a supplychain, hence its low added value gains.

In 2016, the sectorraked in 28.5 billion USD from exports, a rise of 5.2 percent on-year, with itsmain 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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