Vietnamese garment and textile enterprises are losing their competiveness due to high costs of logistics services for exports, experts have said. 

The rest of this year is likely to be a difficult period for the economy meaning challenges for the Government in achieving the targets set for the year.

The third edition of the Denimsandjeans.com Việt Nam Show opened in HCM City on June 27 with over 100 garment enterprises from 11 countries taking part.

The third edition of Denimsandjeans.com Vietnam Show will take place at Riverside Palace, HCM City, from June 27 to July 18.

The domestic textile and garment industry is expected to sustain growth in exports in the coming months, according to the Việt Nam Textile and Apparel Association (VITAS).

Việt Nam’s turnover from textiles and garment exports to Australia is predicted to reach a double-digit growth after the signing of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Việt Nam’s textile and garment exports to the US reached approximately US$3.14 billion in the first quarter of this year, marking a year on year increase of 13.2 per cent – the highest pace in the last three years, statistics from the General Department of Customs show.

Though Việt Nam remains a big importer of textile feedstock and accessories from China, its rising exports to China is a promising sign, according to the Việt Nam National Textile and Garment Group.

As 2018 rolls in with newer and weightier free trade agreements (FTAs), Vietnamese enterprises are faced with a do or die situation. Eventually, they can either fully adapt and move up the global supply chain, or stand by helplessly while imported goods take over the country’s market.

The annual fair houses over 200 booths featuring leading fashion brands in textile and garment, leather footwear, cosmetics, jewellery as well as beauty care services in a total area of 4,000sq.m. It also includes booths showcasing raw materials for the textile and garment sector.