The event, which is hosted by the Vietnam National Textile & Garment Group in collaboration with Vietnam National Trade Fair & Advertising JSC and China’s CP Exhibition Hong Kong, attracts more than 118 enterprises from 12 countries and territories to display their products in an area of 4,600 m2.
The exhibition introduces textile products, such as micro-fiber fabrics, yarn, silk and materials using bamboo fiber, non-woven fabrics and cotton, as well as featuring modern equipment, machinery, automatic technologies and other auxiliary materials.
Speaking at the opening ceremony, Deputy Minister of Industry and Trade Cao Quoc Hung emphasised that 2018 will continue to be a challenging year for the domestic textile and garment industry as the sector needs to move forward in the global textile supply chain with a desire to bring greater value.
In addition, the fourth Industrial Revolution also has a major impact on the textile industry, forcing businesses to adapt and invest more strongly in equipment, as well as personnel, Hung added.
VITAS President Vu Duc Giang speaking at the exhibition opening. (Photo: NDO)
President Vu Duc Giang of the Vietnam Textile & Apparel Association (VITAS) said that although there are many challenges, especially the fierce competition in the global market, Vietnam still exported more than US$31 billion in textile and garment products in 2017, up more than 10% over 2016.
In the first eight months of this year, the export figures reached US$19.4 billion, up 15% over the same period last year, higher than the growth rate of 10.4% in the same period of 2017. The major markets, including Japan, the Republic of Korea, China, accounted for 75% of Vietnam's export value and increased more than 20% over the same period.
With such high export growth rate in the last eight months, combined with positive signs of the market, the forecast for Vietnam's garment exports in the latter months of the year is positive, likely to bring the total export value for the whole year up to US$35 billion.
The HanoiTex 2018 is considered a good opportunity for domestic businesses in the textile and garment sector to learn and equip themselves with advanced equipment and modern technology, as well as expanding cooperation to ensure they continue to develop strongly.
The exhibition will last until September 21.
The HanoiTex 2018 takes place at the Hanoi International Centre for Exhibition, No. 91 Tran Hung Dao street, from September 19 to 21. (Photo: VNA)