With rational labour costs, Vietnam is a good candidate for Japanese garment and textile businesses to choose when seeking a new investment destination, said a senior JICA expert.
Fumio Koyama from the Japan International Cooperation Agency (JICA) made this statement at a consultation seminar on garment and textile exports to Japan, in Hanoi on April 26.
Koyama said that a number of Japanese investors are implementing a “China+1” business strategy to open another production location, instead of focusing only on China, so as to diversify their supply sources, with Vietnam among locations that receive their attention.
For a sustainable growth of Vietnam’s garment and textile exports, Koyama said that Japanese partners can help Vietnam build production establishments overseas and train managers and labour force.
The Ministry of Industry and Trade reported that Vietnam’s garment and textile exports to Japan fetched $1.2 billion, making up 11 per cent of the nation’s total in 2010. At present, Japan is Vietnam’s third largest garment and textile importer, after the US and the European Union (EU).
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