At a conference on March 16, the official stated that such a goal requires garment producers to make great efforts to invest in modern equipment and apply advances in science and technology to address the sector’s weaknesses.
He noted that in addition to proactively sourcing raw materials and establishing concentrated garment manufacturing zones, it is necessary to employ digital technology to create and modify designs in a timely manner.
With such measures, Vietnam will be able to enhance the value of its products along with their competitiveness in international markets, said Truong Van Cam.
He added that the garment sector has emerged as one of Vietnam’s key exports, from only 1.96 billion USD in 2021 to an impressive figure of more than 44 billion USD in 2022, a 22.6-fold increase over two decades.
According to the Vitas official, over 85% of Vietnam’s manufacturing capacity is for exports, and therefor faces stronger competition from countries such as China, Bangladesh, and India.
However, Vietnam still has considerable opportunities from new-generation free trade agreements such as the CPTTP and the EVFTA.
Cam said this is a big opportunity if Vietnamese garment makers can take the initiative in sourcing materials and step up research and design efforts so as to capitalise on the benefits of such trade deals.
