A wide range of products from the textile and garment industry are displayed at the 2023 Vietnam Saigon Fabric and Garment Accessories and Industry Exhibition held in HCM City from July 26 to 29. — VNS Photo Nguyễn Diệp

HCM CITY — Nearly 270 Vietnamese and foreign companies are displaying a wide range of products for the textile and garment industry at the 2023 Vietnam Saigon Fabric and Garment Accessories and Industry (SaigonFabric Summer) Exhibition being held in HCM City from July 26 to 29.

The first ever four-day expo is taking place at the Sài Gòn Exhibition and Convention Center (SECC) in District 7.

The exhibitors are from eight countries and territories, including Việt Nam, Germany, Pakistan, India, China, Taiwan (China), Hong Kong (China) and Thailand.

The expo features the latest technologies, machinery, equipment, yarns, fabrics and raw materials used in the textile and garment industry.

Speaking at the expo's opening ceremony, Deputy Minister of Industry and Trade Phan Thị Thắng said despite the impact of the COVID-19 pandemic, geopolitical conflicts and rising inflationary risks in major economies around the world, Việt Nam still maintains its position as the world's third-largest garment and textile exporter.

The country’s garment and textile exports reached a record of US$44 billion in 2022, a year-on-year increase of 9.7 per cent, and recorded a trade surplus of $18.9 billion.

According to the strategy for the development of Việt Nam's textile and footwear industry by 2030, the textile and garment industry expects export turnover to reach $68-70 billion.

The industry contributes to sustained export growth with an average growth rate of 8-15 per cent per year, creating jobs for nearly two million workers in the textile and garment industry and about one million workers in trade and services relating to the textile and garment industry.

SaigonFabric Summer 2023 expo is a good opportunity to help Vietnamese textile and garment companies access advanced and modern technologies as a basis for their investment orientation in the coming time.

The expo also creates a great opportunity for domestic companies to find reputable partners and suppliers, promote trade, participate more deeply in the global value chain, meet customers' diverse needs at home and abroad, improve the added value of products, and contribute to the development of Việt Nam's textile and garment industry, Thắng said.

Vũ Đức Giang, chairman of the Việt Nam Textile and Apparel Association (VITAS), said the export of garment and textile products decreased by 17.6 per cent to $18.6 billion in the first half of this year, a disappointing result compared to the same period in past years.

“This expo is an opportunity for domestic and international companies to meet, exchange ideas and understand the needs of businesses and production development,” he said.

It also offers a ‘Made in Vietnam’ area for products from nearly 100 Vietnamese companies, and a ‘Business Matching’ area for those seeking potential suppliers and customers.

A number of seminars will be held during the expo with the participation of leading experts, providing companies opportunities to access advanced technologies and the latest market information in the textile and garment industry to improve product quality and production efficiency.

The expo is sponsored and co-organised by the Ministry of Industry & Trade of Vietnam, VITAS, Vietnam National Textile-Garment Group (VINATEX), Association Garment Textile Embroidery Knitting of HCM City (AGTEK), Vietnam Chamber of Commerce and Industry, International Relations Department, CP Exhibition (Hongkong) and CP Vietnam Exhibition Organising Co., Ltd. — VNS