According to Mr. Tai, in 2023, Vietnam’s textile and garment production and exports faced many difficulties, with the total industry turnover decreasing by over 9% compared to 2022, reaching $40.324 billion. It is forecasted that in 2024, the textile and garment industry will continue to face many challenges in terms of reduced orders. Although there are signs of export growth, risks such as supply chain risks, digital transformation trends, economic cycles, and greenization still exist.
However, with the prospects of global economic recovery as well as the forecasted situation of the Vietnamese economy, the textile and garment industry strives to increase the total export turnover of the industry to $44 billion in 2024, a 9.2% increase compared to 2023.
“Up until now, Vietnam is the world’s third-largest exporter and one of the key importers of machinery, fabric, and fiber… Many international textile and garment manufacturers have been expanding their operations in Vietnam, driving the already strong domestic industry.”
Furthermore, being a member of new-generation free trade agreements such as the Regional Comprehensive Economic Partnership (RCEP), the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the EU-Vietnam Free Trade Agreement (EVFTA)… continue to be positive foundations for the development of the industry in the future,” said Mr. Tai.
Representatives from the Trade Promotion Agency noted that global textile and garment manufacturers and supply chains continue to choose Vietnam as a production and ordering location, demonstrating Vietnam’s definite strengths in the textile and garment field.
Representatives of the VIATT organizing committee introduced information about the event on the morning of February 23rd
The interest of foreign businesses is evident through the number of equipment suppliers, raw materials, and purchasing houses registered to participate in textile and garment specialized fairs and exhibitions in Vietnam.
“The VIATT 2024 exhibition will be a launching pad and provide favorable conditions for Vietnamese textile and garment enterprises to have the opportunity to connect and trade with businesses around the world, form linkages, and create new business cooperation opportunities,” Mr. Tai said.
Regarding VIATT 2024, Ms. Wendy Wen, Executive Director of Messe Frankfurt Hong Kong, said the exhibition will take place from February 28th to March 1st at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City.
This is an international trade exhibition of regional scale in Vietnam in the specialized field of fibers, fabrics, textile and garment accessories, household textiles, textile technology, and sewing machines, which is jointly organized by the Ministry of Industry and Trade and Messe Frankfurt Group (Germany) for the first time in Vietnam.
VIATT 2024 has a scale of over 500 exhibition booths covering a total area of 15,000 m2 with the participation of more than 400 domestic and international businesses from 16 countries and territories worldwide.
