JAPAN: Japanese textile businesses choose Vietnam.
With rational labour costs, Vietnam is a good investment destination for Japanese garment and textile businesses, said a senior JICA expert.
Egytex News Desk
Source: www.yarnsandfibers.com
Fumio Koyama from the Japan International Cooperation Agency (JICA) made the 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 launch another production line, instead of focusing only on China, so as to diversify their supply sources. Vietnam is among locations that receive their attention, he added.
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 US$1.2 billion, making up 11 percent of the nation’s total volume in 2010. At present, Japan is Vietnam’s third largest garment and textile importer, after the US and the European Union (EU).
Source: www.yarnsandfibers.com
From the Egytex news archive, first published on 28 April 2011. Figures and names are as reported at the time.
