Business

Ways must be sought to help firms join global production, supply chains: insiders

Vietnamese exporters are facing new difficulties caused by tighter regulations and standards and fierce competition in international markets. Therefore, according to insiders, it is urgent to seek ways to help firms participate in the global production and supply chains.
Ways must be sought to help firms join global production, supply chains: insiders ảnh 1To support domestic firms to engage more deeply into the global production and supply chains, 2023 Vietnam International Sourcing Expo will be organised in Ho Chi Minh City from September 13-15 (Photo: VNA)
Hanoi (VNA) - Vietnamese exporters are facing new difficultiescaused by tighter regulations and standards and fierce competition in international markets. Therefore, according to insiders, it is urgent to seekways to help firms participate in the global production and supply chains.

At a workshop held by the Ministry of Industry andTrade on August 11, Radek Sorcik, Senior Director Purchase & QA Knits andDenim at Germany-based Takko Fashion, said that Takko is looking forward toexpanding its business, and moving operation from China to Vietnam in order tofind more Vietnamese suppliers.

The company has some potential and important product groupsin its development strategy such as sportswear, outdoor clothing, T-shirt, andtrousers. However, these products of Vietnam are facing fierce competition fromBangladesh and China.

Therefore, if Vietnam wants to boost the export of theseproducts, domestic enterprises must focus on investing in factories and improving fabric quality and origin, Radek Sorcik said.

The market is increasingly demanding higher legal andenvironmental standards, so to be eligible to participate in Takko's supplychain, Vietnamese businesses need to focus on researching and building suitablebusiness strategies, he added.

Tran Ngoc Quan, Vietnamese Trade Counsellor in Belgium and the European Union,stated that the European Commission (EC) has just proposed an extended producerresponsibility (EPR) scheme for textiles.

Accordingly, textile manufacturers must ensureresponsibility for the entire life cycle of their products, and support thesustainable management of textile waste throughout Europe.

The tight requirement will cause great pressure on Vietnameseexporters, as they are forced to prepare a circular production process, reducewaste from textiles, and use environmentally friendly and recycled materials,Quan stressed.

If these standards are met, Vietnamese products will gain afirm foothold in the European market, he added.

To support domestic firms to engage more deeply into theglobal production and supply chains, the 2023 Vietnam International Sourcing Expowill be organised in Ho Chi Minh City from September 13-15.

It is a reputable event that draws leading firms in variousfields, including food, garment and textile, footwear, handbag, sportswear,home appliances, furniture, and supporting industries.

This year, the event expects to welcome 8,000 visitors and200 delegations from 30 countries and territories. It has receivedgreatest-ever interest from world leading companies./.
VNA
#Vietnamese exporters #global production and supply chains #Vietnam #Vietnamplus #Vietnam News Agency
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