Vietnamese textile and garment companies actively mobilise resources for industry recovery
The Vietnam Textile and Garment Association (Vitas) said that textile and garment companies are entering a "race" to recruit staff, especially those with good skills, the Vietnam News Agency (VNA) reported on February 10 in Hanoi. This is because at present, not only ordinary and low-priced orders are flowing to Vietnamese companies due to good production and management capabilities, but also orders for high-end and delicate garments, and partners trust Vietnamese companies' production capabilities.
Vitas Chairman Vu Duc Giang said that the driving force for brands from around the world to enter the Vietnamese market is Vietnam's plans for sustainable development, green, digital governance and circular economy. This is a solution to promote, stabilise and develop in Vietnam, especially encouraging textile and garment companies to focus on creative design and reduce the proportion of OEMs.
In the current context, many textile and garment companies are expecting a recovery in the second and third quarters of this year, with a rebound in order numbers. As a result, companies need a stable and highly skilled workforce.
In 2023, Vietnam's textile and garment industry is aiming to achieve a target export value of approximately US$45-47 billion. With many positive signals from the market, many companies have been running at full capacity since the beginning of the year, while recruiting more quality human resources to meet high-end orders from their partners.
According to Vitas, the trade agreement is the very driving force behind the transfer of foreign investment to Vietnam, helping companies to diversify their markets and products. In addition, Vietnam's textiles and garments have been pushing to reduce imports and increase domestic production of raw materials. This is the solution for companies to take the initiative in raw materials.
According to Vitas, the textile and garment industry has now localised around 49% and this figure is expected to rise to 51%-55% in 2023-2025. Despite the many difficulties still faced in the major markets, Vitas forecasts that the export value of Vietnam's textile and garment industry could still reach the target of US$45-47 billion in 2023.