2023 Vietnam International Textile Industry Exhibition VTG-Bi Liantian

Market overview:

[Vietnam's cloth and ingredients market has great potential]

With Vietnam officially becoming a member of the World Trade Organization (WTO) on January 1, 2007, Vietnam aims to become the world's top 10 garment exporter in the future. The government will continue to vigorously develop textile and garment manufacturing and related industries. In Vietnam, because foreign or wholly owned garment enterprises can only supply 20-30% of the domestic demand for high-grade cotton fabrics, the Vietnamese garment industry is committed to increasing exports to the United States, Europe, Japan and other places, and the local demand for fabric quality is high, so domestic garment manufacturers are eager to seek and develop a large number of imported cotton markets

Due to the reasonable price and good quality of imported fabrics, Vietnamese manufacturers can temporarily import fabrics and then export them (the government will refund the import tax). Imported fabrics, especially high-count cotton, are very popular for exporters. At present, the average number of popular fabrics in Vietnam is 40-50, but better fabrics or yarns will be imported. Although fabric producers can import better yarn for their own production, the cloth produced in Vietnam is generally 20% more expensive (the import tax of yarn is 20%) than the cloth imported by garment exporters and then have to export tax rebate. It can be seen that this is a very good business opportunity for manufacturers of knitting machinery and cotton materials

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