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Vietnam ramps up raw material imports

Vietnam’s imports of garment and textile materials rose significantly during January to September 2018. In clothing materials, fiber imports jumped 34.6 per cent from the same period in 2017. Cotton imports saw a rise of 30.3 per cent compared to the first nine months of 2017. Imports of waterproof fabrics rose 13.5 per cent.

The country has to import large volumes of feedstock including yarn, fabric and others. >The industry has to decrease its dependence on traditional sources in Asean and China. Depending on purely one or two sources will limit manufacturers’ production capacity and development. Vietnam has imported garment and textile raw materials from China for a long time. It is now looking at upgrading technologies as well as diversifying its raw material sources.

India is seen as one of the best alternative choices. Many Vietnamese garment companies have visited India to explore co-operation opportunities and returned impressed with the country’s garment and textile industry, since several raw materials available in India suit their needs. Indian products have good quality and are priced reasonably due to the free trade agreement signed between India and Asean. Besides, India plans to cut taxes on garments and textile sector products in future.