Twenty-five Vietnamese garment makers showcased their products at this year’s edition of Sourcing at Magic Fashion Trade Show in Las Vegas, US, as per reports by the Vietnam Textile and Apparel Association (VITAS).
Held from Aug 19-21, 2024, the trade show featured a wide range of products made by different materials and in different patterns and designs in 16 pavilions.
The United States is a traditional export market of Vietnamese textiles and garments, accounting for a large turnover. In the first six months of 2024, the United States importedtextiles worth $7.2 billion from Vietnam, making up 7.2 per cent of the US market share, second only to China.
However, the United States importers are tightening regulations on imported products, especially with supply chain control. VITAS has advised garment makers to diversify supply sources of materials from new markets, instead of relying on China that supplies more than 50 per cent of the materials to the Vietnamese garment industry.
Currently, many local garment makers have imported materials from the Republic of Korea, India and Japan, among other markets.
The Government has approved the Strategy for development of Vietnam’s Textiles, Clothing, Leather and Footwear industries to 2030, with a vision to 2035, which emphasises domestic supplies of materials. Businesses are encouraged to promote investment in modern technology in production, thereby gradually solving difficulties and proactively controlling supply sources to reduce dependence.
