How do Chinese textile enterprises in Vietnam deal with economic difficulties

by:JIYALI     2021-08-17
In Vietnam, the textile industry is one of the largest pillar industries. In recent years, the number of Chinese textile manufacturers investing in Vietnam has also increased year by year. So will Vietnam’s current economic difficulties have an impact on Chinese textile companies investing in Vietnam, and how should companies respond?   Sun Huaibin, director of the China Textile Research Center, said: This kind of overcoming should not be easily withdrawn. I think more consideration should be given to improving labor productivity and reducing cost pressure by improving management, for example.  Sun Huaibin pointed out that at present, my country has invested more than 200 textile and garment enterprises in Vietnam, and textile fabrics and accessories enterprises are also entering the Vietnamese market one after another. Regarding the current economic difficulties in Vietnam, experts believe that this is only temporary, and domestic textile companies should not lose their confidence in investing in Vietnam. At present, Chinese companies in Vietnam should relieve the pressure by developing new products, increasing the added value of products, and increasing product prices. At the same time, companies can also diversify investment risks through internal trade transactions through domestic parent companies.   Sun Huaibin, director of the China Textile Research Center, said: We also hope that our government can play some role to provide some help to our companies investing in Vietnam, especially financial assistance.
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