Vietnam's textile and garment industry to be introduced in Netherlands under Vietnam Value Program
Viet Nam’s textile and garment industry is one of 5 industries to be introduced to the Netherlands under Vietnam Value program, following the Vietnamese Ambassador Pham Viet Anh’s article “Vietnam Value – A quality commitment to the world market” published on Diplomat Magazine on 31 October 2021.
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| Vietnam Value – A quality commitment to the world market. |
Viet Nam’s textile and garment industry has been developing strongly and plays an increasingly important role in economic growth of the country. Viet Nam is the forth largest garment exporter in the world market after China, EU, and Bangladesh with an export market share of 7.05% in 2020, an increase from 5.54% of 2016.
Viet Nam has participated in 16 FTAs (including 2 next-generation ones: CPTPP and EVFTA), and has been considered an attractive destination for investors who are keen on the garment and textile industry. Viet Nam’s bilateral and multilateral FTAs continue to provide Vietnamese manufacturers access to new markets, minimizing the effect of growing trade protectionism.
Viet Nam’s top five cotton suppliers are the United States, Brazil, India, Australia, and Cote d’Ivoire, supplying over 90 percent of cotton for the country’s production. Viet Nam also imports yarn for its weaving and knitting industry, most of which is synthetic yarn. Viet Nam’s imports of cotton yarn are insignificant compared to total yarn exports, reflecting a strong capability of the country to supply cotton yarn for both local consumption and exports.
The country’s textile and garment industry aims to achieve an export revenue of about 39 billion US dollars in 2021. The textile industry is expected to recover thanks to (i) the recovery of traditional orders; (ii) Some events supporting the shifting of orders from China to Viet Nam.
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Currently, Viet Nam’s textile and garment products are present in over 200 countries and territories, a sharp increase compared to the number of 150 in 2016. In addition to maintaining, achieving incredible growth in the main export markets such as the US, EU, Japan, Korea, Viet Nam’s textile and garment industry has made great efforts and breakthroughs in other markets such as China, Russia, Cambodia, Indonesia, Thailand...
The US is Viet Nam’s main export market in 2020, reaching 16.06 billion US dollars, accounting for 45% of total textile and garment export turnover. Meanwhile, exports to the EU market accounted for 14% of the total export value, reaching 4.99 billion US dollars, followed by Japan and South Korea with 4.82 billion US dollars and 3.57 billion US dollars, respectively.
To promote local products in domestic and overseas markets, the government continues to pursue its goal of increasing the value of Vietnamese brands (Vietnam Value Program).
While participating in this program, enterprises must comprehensively evaluate their activities, production and business results, and branding strategy with the help of the given criteria. The state aims to encourage enterprises to share and pursue the core values of the program, which focus on quality, innovation, and creativity.
Over the nearly 18 years of development, the biennial Vietnam National Brand (Vietnam Value) Program has achieved many positive results, attracting attention and creating prestige for businesses, regulators, and individuals at home and abroad. The program honoured countless brands and enterprises which all represent Viet Nam’s national brands and contribute to establishing the image of a country with high-quality goods and services that is highly competitive in the international market.
There are five Vietnamese apparel companies that made the list of Vietnam Value, including May 10 Corporation, Hoa Tho Textile and Garment JSC., Nha Be Garment Corporation – JSC., Phong Phu Corporation and Viettien Garment Corporation.
With domestic revenue in 2018 reaching over 180 billion/year and the average growth rate for 3 consecutive years from 2018 – 2020 is over 15% / year, May 10 Corporation is making efforts to strongly develop the domestic distribution system, bringing more and more valuable products to Vietnamese consumers. Currently, May 10 has registered for intellectual property rights in Viet Nam, the US, EU, Russia ... May 10’s product lines are also introduced and old on the Amazon.com website with good reviews from customers and partners.
The Merriman men’s fashion brand of Hoa Tho is the crystallization of manufacturing experience for major brands in the world and understanding of the domestic market. Products are manufactured on modern technological lines with environmentally friendly materials and elegant form with luxurious colors.
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| Vietnam Value – A quality commitment to the world market |
NHA BE GARMENT CORPORATION - JSC. constantly strives to be worthy of Viet Nam’s leading brand in the garment sector and always creating as well as trying to manufacture high- quality products and services at competitive prices. We always choose and apply the best materials, making our customers feel comfortable in most weather conditions.
With advanced production technology, closed on modern machinery and equipment from Japanese, The US, EU, Phong Phu (Phong Phu Corporation) cotton towels are trusted by both domestic and foreign customers, highly appreciated for their outstanding quality, diverse designs, safe ingredients for health, eco-friendly....
Viettien (Viettien Garment Corporation) brand is the standard for male fashion in the workplace. Polite, formal and seamless are our product offerings including dress shirts, fashionable shirts, Polo shirts, T-shirts, jackets, sweatshirts, suits, ties, jeans, khaki pants, trousers, shorts, accessories, etc. Viettien is one of the leading brands in the office fashion industry in Viet Nam.
| "With the policy of proactive and active economic integration, over the past 18 years, Viet Nam has launched and implemented the Program “Vietnam National Brand” (Vietnam Value) to encourage businesses to build their own brands attached with their products or/and services to be recognized and honored as Viet Nam value by the process of evaluating, selecting under specified criteria given by the government. The criteria set out for the program are also the basis for each business to self-assess its own quality of products/services in order to build stable brands, to introduce them to the world market. In the process of evaluating and honoring “Vietnam value” to any company, product and service, not only the criteria of quality, but also the research and development, the content of innovation in the production process, the use and policies toward labor and the impacts on the environment are also very important key points to take into consideration. Thus, to ensure product and service quality, the ultimate goal is always to serve people while protecting nature and the living environment" - Ambassador of Viet Nam to the Netherlands Pham Viet Anh. |
(Source: Vietnam Trade Office in the Netherlands)
