Taiwanese suppliers score as Vietnam's textile industry sees an upturn

The 2022 SAIGONTEX edition ended on July 30 in Ho Chi Minh City. Listed textile companies participating in the Taiwan Textile Federation delegation group included Far Eastern New Century, Shinkong Synthetic Fibers Corporation, Zig Sheng Industrial, and Eclat Textile. Featured products include various popular and functional yarns, fabrics, trademarks, dyes, and auxiliaries. According to the Taiwan Textile Federation's on-site observations, more than 800 buyers visited the Taiwan Pavilion, and the exhibitors received about USD$300,000 worth of orders. In addition, the federation expects post-show following-up of business talks will exceed USD$5 million in total.

SAIGONTEX is the largest and most well-known textile comprehensive exhibition in Vietnam. After the exhibition in 2019, it was suspended for two years due to the COVID-19 pandemic. In its relaunching debut, SAIGONTEX saw 278 manufacturers from 16 countries participate in this exhibition, and while the exhibition scale was only one-third of the previous scale, the Taiwan Textile Federation reported observing a steady stream of professional visitors.

In order to promote the international image of Taiwan's textile industry and enhance the participation efficiency of the industry, the federation is implementing an initiative called the "Textile Integrated Marketing and Business Development Plan," which is commissioned by the International Trade Bureau of the Ministry of Economic Affairs. The initiative called for them to set up a Taiwan Pavilion at the show, exhibiting suppliers featuring "Fashion, Function and Accessories & Yarns," and more, exhibiting more than 100 sustainable, fashionable and light functional textiles. The pavilion attracted large-scale Vietnamese garment manufacturers Thai Tuan Group, Duc Giang Corporation, and Fastlink, Vietnamese chain clothing brand YODY Fashion, multinational garment group Asmara, American sports brand Converse Vietnam purchasing office, American professional diving equipment brand Huish Outdoors, German high-end shirt brand Seidensticker Group's Hong Kong procurement office, Australian military apparel brand Australian Defence Apparel, and other foreign buyers.

Vietnam's textile and apparel exports have grown rapidly after the severest COVID-19 waves had ended. According to statistics from the Vietnam Ministry of Industry and Commerce, Vietnam's textile and apparel exports reached US$39 billion in 2021, an increase of 11% over 2020; Vietnam Textile and Apparel Association said that this year, as of June, the country's textile and apparel exports will likely reach USD$22 billion, an increase of 23% over the same period in 2021.

Vietnam is a key market promoted by Taiwan's New Southbound Policy. The investment impact of the country joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Regional Comprehensive Economic Partnership (RCEP) has already appeared. In the future, it is expected to attract more foreign investment to Vietnam. Vietnamese garment factories also need to import sustainable textiles to meet the current procurement needs of international buyers.