On the morning of July 26th, at the Saigon Exhibition and Convention Center (SECC), the opening ceremony of the 2023 International Exhibition for Fabrics, Machinery, and Equipment, as well as Raw Materials for the textile industry (SaigonFabric Summer 2023) took place.

This is the first exhibition in Ho Chi Minh City dedicated to fabrics and raw materials, spanning an exhibition area of over 8,000m2 and gathering more than 300 domestic and international companies.

Mr Tran Ngoc Liem - Director of VCCI-HCM speaking at the Exhibition Opening Ceremony

The opening ceremony was attended by Ms. Phan Thi Thang - Deputy Minister of the Ministry of Industry and Trade, Mr. Tran Ngoc Liem - Director of VCCI HCM, Mr. Vu Duc Giang - Chairman of the Vietnam Textile and Apparel Association (Vitas), Mr. Cao Huu Hieu - CEO of the Vietnam National Textile and Garment Group (Vinatex), along with representatives from Embassies, Consulates General, Trade Offices, and other distinguished guests.

According to the Ministry of Industry and Trade, despite being greatly affected by the COVID-19 pandemic and global geopolitical fluctuations over the past two years, Vietnam remains the world's third-largest textile and apparel exporter. The export value in 2021 reached over $40.4 billion USD, and in 2022, it reached $44.4 billion USD, with a trade surplus of $18.9 billion USD. The development strategy for the Vietnamese textile, garment, and footwear industry sets a target for exports to reach $68-70 billion USD by 2030.

However, in the current international trade landscape marked by numerous uncertainties, textile and apparel businesses are facing challenges in finding and maintaining markets, as well as securing sources of raw materials.

To overcome these challenges, Vietnamese textile and garment enterprises need to enhance their development in-depth rather than just expanding broadly. They should engage more deeply in the global textile and apparel supply chain, particularly focusing on value-added stages such as design, input material production (especially fabric), distribution system development, and gradually elevating their position in the production chain.

Mr. Tran Ngoc Liem - Director of VCCI HCM - evaluates that the recent years have been a period of significant difficulties and challenges for the economy in general and the textile and garment industry in particular. Many major economies, including Vietnam's important trading partners, are experiencing slowed growth, and some have even entered into recession. Consumer purchasing power has also notably declined. The export unit price of Vietnamese textile and garments has been valued lower compared to previous years.

In addition to these challenges, there are stringent demands from brands, such as price reductions, smaller orders, shorter delivery times, and higher quality requirements. However, Mr. Liem remains confident that Vietnam's textile and garment industry will continue to develop and achieve the export target of over $45 billion USD for the year 2023.

The Director of VCCI-HCM stated, "To promote the production of textile and garment enterprises in the coming time, besides collaboration among domestic enterprises, establishing connections and cooperative relationships with foreign businesses and investors to form supply chains, expand export markets is highly necessary."

He believes that exhibitions provide a good opportunity for both Vietnamese and foreign businesses to showcase and introduce products, raw materials, advanced machinery, and equipment for the industry. Additionally, these events serve as occasions for domestic and international enterprises to meet, exchange, and understand each other's business cooperation needs and production development.

Delegation Visits Exhibition

Mr. Vu Duc Giang - Chairman of Vitas, and Mr. Cao Huu Hieu - CEO of Vinatex, on behalf of various enterprises, gathered feedback on development solutions for the textile and garment industry to achieve the expected goals in the upcoming period.

Mr. Cao Huu Hieu - CEO of Vinatex, shared, "The 2023 International Exhibition for Fabrics, Raw Materials, and Machinery for the Textile Industry (SaigonFabric Summer 2023) is the first exhibition focusing on Fabrics and raw materials, following the success of the 2023 International Exhibition for Textile Equipment and Raw Materials. We hope that during the exhibition, Vietnamese textile and garment enterprises will seize numerous opportunities, establish business connections with reputable partners, and develop multiple solutions to source raw materials. This will enable them to keep pace with global fashion trends and stay aligned with the direction of the global textile and garment industry."

During the ceremony, Mr. Vu Duc Giang - Chairman of Vitas, also mentioned that Vietnam's Textile and Garment industry experienced a 17% decrease in exports during the first six months of 2023 compared to the same period in 2022. It is anticipated that exports will reach $4 billion USD in July 2023. The SaigonFabric Summer 2023 exhibition presents an opportunity for businesses to access new sources of raw materials, helping the Vietnamese Textile and Garment industry achieve the goals and expectations set by the government in the development strategy for the 2030 - 2035 period.

The SaigonFabric Summer 2023 exhibition, featuring the participation of nearly 300 suppliers from 8 countries and territories, including China, Germany, Hong Kong, Pakistan, India, Taiwan, Thailand, and Vietnam, will showcase new products and services to businesses within the industry. Particularly, at the SaigonFabric Summer 2023 exhibition, there will be a separate "Made in Vietnam" section for the first time, with over 100 companies introducing Vietnam's sources of fibers, fabrics, and raw materials. The "Business Matching" area will consist of 60 booths aimed at facilitating trade connections between suppliers, brands, and potential buyers in Vietnam, including renowned names like Gap, Puma, Nike, Adidas, Decathlon, PVH (Tommy Hilfiger, Calvin Klein...), Colombia, H&M, Li & Fung, Asmara, Centric, and more. The exhibition will be open from July 26th to 19th, 2023.

According to Quan Bao (Business Forum Magazine).