Great opportunities from HanoiTex & HanoiFabric 2024
HanoiTex & HanoiFabric 2024 taking place from October 23 to 25, 2024 at the I.C.E Hanoi International Exhibition Center is attracting special attention from the Vietnamese and international textile and garment industry.
On the opening day of October 23, the Vietnam National Textile and Garment Group and Hanoi University of Industry (HTU) organized a workshop with the theme “Vietnam’s textile and garment industry: Vision 2045 – Where green growth meets productivity”. Leading experts discussed the trend of green growth, application of modern technology and artificial intelligence (AI) in the textile and garment industry.
On October 24, the Ho Chi Minh City Textile, Garment, Embroidery and Knitting Association will organize two more seminars on textile and garment exports and the industry's green transformation challenges, attracting the attention of businesses and experts in the field. The HanoiTex & HanoiFabric 2024 exhibition covers an area of over 6,000m², bringing together more than 210 booths from 10 countries and territories such as: India, Bangladesh, Taiwan (China), Korea, Hong Kong (China), Lithuania, Japan, Switzerland, China, Vietnam.
Exhibitors will display the most modern products and equipment in the textile industry, as well as a wide range of fabrics and raw materials that clearly meet each goal of modern and sustainable production trends.
Many famous brands providing technological solutions for the textile industry will participate such as: IMB, ASHIMAR, NICERBT, BROTHER, SIRUBA, ISAMU, JUKI, JACK, YAMATO, HUATANG... Especially, the appearance of many manufacturers of sewing materials and fabrics will also participate such as: Yarn, cotton, fabric: Bautex Vina, Daluen, ETH textile, Faslink, FuColor, Hanh Viet, Jiale Tex, Ko - Vina, Lami, Maxbond, ShenHong, Sunshinetex, TahTong, Tesstelation, Viet Thanh, Yagi; Garment accessories: Anh Toan, Faswell, J-Long, Heasung Vina, KCC, Kiyohara, New One Brand, SanFang, Sheico Shimada, Shindo, Shinsung Vina, SAB, TCC, Shanghai, Tim Do, YKK...
Enterprises will display modern equipment, machinery and the most advanced textile materials, and introduce new technological solutions to meet the needs of sustainable production in the era of Industry 4.0. HanoiTex & HanoiFabric 2024 will be a great opportunity for trade, creating momentum for growth for Vietnam's textile industry in the coming time.
Challenges and expectations
According to the Customs Directorate, textile and garment exports in September 2024 increased by 15.8% compared to September 2023, reaching nearly 2.98 billion USD. In the first 9 months of 2024, the total turnover reached over 27.34 billion USD, an increase of 8.9% compared to the first 9 months of 2023.
Vietnam currently exports textiles and garments to 113 countries and territories. Of which, Vietnam's textile and garment exports to the US continue to rank first in terms of turnover, reaching nearly 12.01 billion USD, accounting for 43.9% of the country's total textile and garment export turnover, up 9.1% compared to the first 9 months of 2023.
As one of the three largest textile and garment exporters in the world, employing more than 2 million workers and with monthly export turnover reaching from 3.5 to 4 billion USD, the Vietnamese textile and garment industry is taking full advantage of opportunities opened up by fluctuations in the global market.
However, the Vietnamese textile and garment industry still faces internal challenges such as limited dyeing and weaving capacity, affecting the ability to expand exports. To overcome challenges and seize opportunities, Vietnamese textile and garment enterprises need to proactively invest in technology, innovate products, and improve product quality to meet increasingly high market demands. Currently, textile and garment exporting enterprises are focusing on solutions such as investing in technology and optimizing production processes, deeply participating in the OBM and ODM value chain, increasing production thanks to abundant imported raw materials, etc.
Textile and garment enterprises continue to focus on training and improving skills for workers, building a highly qualified workforce. Focus on developing sustainable supply chains, protecting the environment and ensuring worker welfare.
Vietnam's textile and garment industry is expected to continue to maintain its growth momentum in the coming time. The export turnover target of 44 billion USD (up 9.2% compared to 2023) in 2024 is considered completely feasible.
“With the focus on investment in technology development, green and sustainable production such as using renewable energy and reducing emissions from domestic enterprises, the textile and garment industry has had remarkable growth,” said Mr. Vu Duc Giang - Chairman of the Vietnam Textile and Apparel Association (VITAS).
