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In recent years, Vietnam has embraced the new opportunities brought about by the FTA, covering the entire textile industry chain, and continuously absorbing large amounts of investment from home and abroad, which has played an important role in promoting Vietnam's economic development.
The textile and garment industry in Vietnam has also achieved growth not only in quantity but also in quality. In the fierce competition and rising costs of China's textile industry, the cost advantages of countries such as Vietnam and India are gradually revealed. More and more equipment and materials companies choose to “go global”, and the global textile industry has shifted to South Asia and Southeast Asia. Become a craze. Under this trend, the Chinese textile industry is inevitably facing new challenges.
Vietnam textile industry overview
1. The overall market environment
The textile industry is an important economic industry in Vietnam. It plays an important role in creating employment and contributing to exports. 20% of jobs in Vietnam industry are created by the industry. Today's textile and apparel market in Vietnam has great potential. With the official entry into force of the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) in Vietnam, Vietnam's economy is expected to grow by 1.3% and trade exports by 4%. As one of the most important industries in the economy, textiles and garments are also the big beneficiaries of CPTPP. The entry into force of the agreement will significantly reduce tariffs, promote export commodities and market diversification, and the Vietnamese textile industry will develop better and faster.
In addition, Vietnam is now in the “demographic dividend” period, with an average age of only 29 years. This has greatly increased the quantity and quality of the labor market in the textile and garment industry, and injected momentum into the rapid development of textile and garment enterprises. It can be said that thanks to these new free trade agreements, the Vietnamese textile and apparel market has unlimited potential and is growing up in a rapid situation.
2, export orders are considerable
Vietnam is recognized as the world's third largest garment exporter, and textiles is one of Vietnam's key export products. The main markets for textile and apparel exports in Vietnam are the United States, Europe, Japan and South Korea. With the continuous entry of foreign investment into the Vietnamese market in recent years, the current orders for textile and garment enterprises in Vietnam are considerable.
Manual replacement of machines has become an inevitable trend
With the increase of garment factories and the continuous increase in orders, various types of printing machines with higher production efficiency have become the necessary choices for the Vietnamese textile and garment industry in order to reduce production costs. And digital printing machines have become the current market trend due to their good printing effect.
Traditional manual plate printing will form a sewage discharge. Under the strict environmental protection policy of the Vietnamese textile industry, digital printing equipment capable of energy saving and emission reduction has become a company in order to seek to improve the processing capacity of environmental protection technology and adopt low-energy and low-pollution production methods. The inevitable choice, which is also an important factor in promoting manual replacement of machines.
In production, such as Shunxin, Bihong and so on. More and more companies have indicated that they will be more inclined to choose domestic famous brands. They believe that China's printing equipment has both quality advantages and price advantages, stable equipment performance and high cost performance. Thanks to its superior geographical location, the maintenance and after-sales work of the machine can be timely and the service is perfect. Therefore, they gave a high impression of Chinese printing equipment. “In the past, we did not consider domestically produced machines, but in recent years, domestically produced equipment has met our requirements, such as printing speed, printing effects, etc., and more importantly, stability.”
Domestic textiles face challenges
The Vietnamese textile and apparel market has great potential. According to WTO data, although the export share of China's textile and apparel international market is still stable in the world, it has declined since 2016. In contrast, India, Vietnam and Bangladesh have increased their share of textile and apparel exports. Among them, Vietnam has improved rapidly. In 2017, Vietnam’s export share was 4.6%. From 2010 to 2017, Vietnam’s textile and apparel exports grew at an average annual rate of 17.4%, while China’s average annual growth rate was only 4.4%. Thanks to the new trade agreement, the Vietnamese textile market will also gain greater business opportunities and achieve better development.
Faced with the severe challenges brought by Vietnam, what is the traditional advantage of China's textile and garment industry?
We believe that China's textile and garment industry must face the rapid development of the Vietnamese market, implement upgrading and transformation, and move from “big” to “strong” to move toward medium and high-end technological innovation and improve independent innovation capability.
At the same time, there is no need to be pessimistic in the face of the severe challenges brought by the Vietnamese market. Although China and these countries are in a competitive relationship in the international export market, they also form a close cooperative relationship in the development of the industrial chain.
On the one hand, affected by factors such as China's limited resource and environmental carrying capacity, rising production costs, and the need for domestic enterprises to accelerate international development, in recent years, some Chinese companies have invested in a number of spinning and garment processing and production bases in Southeast Asia and South Asia. It has formed an industrial chain supporting cooperation relationship with domestic upstream and downstream enterprises, and “China Southeast Asia” has gradually become a new international layout mode of China's textile manufacturing industry.
On the other hand, the industrial systems of these countries are still not perfect, especially the weak links of fabrics, dyeing and finishing, and equipment. It is necessary to import a large number of excipients and textile equipment from China, which is an important growth force for the export of Chinese textiles and textile machinery.
Therefore, the new free trade agreement is coming, and the domestic market should seize the opportunity to take advantage of the trend and take advantage of the trend.
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