Trương Văn Cẩm, Vice President, Việt Nam Textile and Apparel Association (VITAS), says, alongwith the international market, the Viet Nam textile and garment industry must also focus on the domestic market to help boost its capacity to about $7 billion next year.
Van Cam adds, the textile and garment industry in Viet Nam is one of its key export industries and creates many jobs for workers. In 2022, the industry’s export turnover reached more than $44 billion
However, the industry faces several challenges in the domestic market, notes Cam. One of these is the rise in fake, counterfeit and smuggled goods in the market whose labels are changed to deceive consumers, he adds.
According to the Le Viet Nga, Deputy Director-Domestic Market Department, Ministry of Industry and Trade, domestically manufactured goods are also challenged by imported products being openly sold in the domestic market after the implementation of new-generation free trade agreements such as CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership), EVFTA (Vietnam - EU Free Trade Agreement).
The expansion of foreign retail chains, both directly and online, also adds to the woes of Vietnam’s domestic textile and garment industry. It enlarges the proportion of imported goods in the distribution systems, adds a representative of the Ministry of Industry and Trade.
