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Related Keywords: build large centers for designing fashion, garments and textiles by next three years, set targets of meeting eighty to ninety percent demand, supplying hundred percent of accessories, textile material and accessories, trading garment, Vietnam garment industry, Vietnam Ho Chi Minh City

Vietnam's Ho Chi Minh City has set targets of meeting 80-90 percent demand for garments and textiles by 2020, and supplying 100 percent of accessories for the country's garment industry, the municipal authorities said on Sunday.

For which it will build large centers for designing fashion, trading garment, textile material and accessories for the ambition to become the country's future garment, textile material and accessory hub.

Related Keywords: benefit most from TPP, big markets of US, bring more export opportunities, game-changer for Southeast Asian economies, garment firms not interested in trade deal, HCMC Center for Trade and Investment Promotion, Japan and Australia, made no preparation, newly-inked TPP to lower import taxes, tap opportunities, Vietnam garment industry

Vietnam garment industry despite being expected to benefit the most from the TPP, few of the 2,000 garment firms across the country have shown interest in it. Only large companies seem to have the capability to study and make preparations for the TPP as it is expected to bring more export opportunities, especially in the big markets of the US, Japan and Australia.

Related Keywords: chain linkage, domestic, Free trade agreement, garment producer, international market, marketing, original design manufacturer model, product development, production methods, production targets, regional trade blocs, remodel, TPP, Vietnam garment industry, Vietnamese enterprises

Vietnam one of the world's largest garment producers to maintain its status is making all efforts to remodel its production methods. The move comes in the light of advantages offered by the Trans Pacific Partnership (TPP) and other free trade agreements that the country has entered into with regional trade blocs around the world.

According to Le Tien Truong, Vietnam Textile and Garment Group (Vinatex) General Director after years of manufacturing, Vietnamese enterprises have gained much experience in manufacturing, management and labour.

Related Keywords: garment export, Vietnam garment industry

Vietnamese garment exports growth is expected to be lower this year, with the target being only 12 percent, compared to 18 percent last year, according to the Vietnam Textile and Garment Association due to rising labor costs and heavy reliance on imported raw materials.

According to Pham Xuan Hong, the chairman of the association, Vietnam is facing ferocious competition from low-priced products from other countries, including Bangladesh, which offer lower selling prices due to their lower labor costs.