Want to be in the loop?
subscribe to
our notification
Business News
TEXTILE-GARMENT SECTOR URGED TO EMBRACE DIGITAL TRANSFORMATION
Garment and textile companies need to develop a strategy for digital transformation to ensure their survival and future development, a seminar heard in HCM City yesterday.
Brad Park of Global Dyeing Company said consumers were demanding more and changing quickly.
Production needs to follow consumers’ demand so that production and delivery times are reduced, according to Park.
Besides, consumers also pay closer attention to companies’ corporate social responsibility and environmental protection.
Companies must work to satisfy customers’ demand, reduce the cost, waste and lead time, and improve quality and design, he said.
“Digital transformation would help enterprises respond rapidly to the market,” he said.
"Firms need to identify which processes they need to transform and map out an optimal digital transformation process with the support of technology solution providers.
"But besides improvement in technology, firms also need to improve human resources and pay more attention to environmental protection," he said.
Sam Lee of Inteco, a company that offers consultancy for factory automation, said businesses in many countries were adopting smart manufacturing to replace human workers in a variety of operations.
According to Lee, garment and textile is one of the key industries in Việt Nam with increasing exports in recent years, but manufacturing and exports mainly based on the CMT (cut-make-trim) model, while more advanced business models like Original Equipment Manufacturer (OEM) and Original Design Manufacturer (ODM) remain modest.
Manufacturing based on the CMT model requires a large number of workers, resulting in high production costs, and automation will help reduce them.
Lee spoke about the success achieved by South Korea’s Hansae Co Ltd., an OEM manufacturer and exporter of apparel, saying automation had helped the company increase its revenues strongly between 2016 and 2019.
Park said Việt Nam’s textile industry had great potential for development.
With its experience in global operations, his company wants to join hands with the Việt Nam Textile and Apparel Association to “lead innovation for smart, green manufacturing in Việt Nam.”
“Transform digitally or die. We must join hands to develop together.”
The seminar also discussed the online exhibition trend and B2B biz-matching.
Jun Chol, director of the Coex Vietnam representative office, said COVID-19 had greatly impacted the business-to-business exhibition industry across the world.
Virtual exhibitions offered new opportunities for manufacturers, eliminating geographical barriers so that companies could reach a much larger audience, he said.
But physical exhibitions could not be replaced by online ones, and would resume after the pandemic, he said. There would be a rising trend of online-offline models, he said.
Themed Digital transformation in the textile and garment sector to overcome the COVID-19 pandemic, the two-day seminar was organised by VITAS and the Korea Institute of Industrial Technology.
Today the seminar will discuss virtual fashion and 3D design.
The event seeks to share new global technological trends and enhance co-operation between the Korean and Vietnamese garment and textile industries.
Source: VNS
Related News
![Card image cap](/uploads/news/Eco2.jpg)
GOV’T UNVEILS ACTION PLAN TO ACCELERATE INDUSTRIALISATION
Vietnam aspires to become among the top three industrial powerhouses in ASEAN, with the industrial sector contributing over 40 per cent to GDP. The manufacturing and processing sector is expected to account for around 30 per cent of GDP, with a strong emphasis on high-tech products aiming for over 45 per cent of the sector's value. To further drive the economy, the service sector is projected to contribute over 50 per cent to GDP, with tourism alone generating 14-15 per cent.
![Card image cap](/uploads/news/economic.jpg)
VIETNAM’S H1 ECONOMIC GROWTH QUITE IMPRESSIVE: ADB COUNTRY DIRECTOR
Country Director of the Asian Development Bank (ADB) for Vietnam Shantanu Chakraborty has expressed his impression of the Southeast Asian nation’s economic growth of 6.4 per cent in the first half of this year. The growth was mainly driven by strong trade recovery, where export grew by 14.5 per cent and import by 17 per cent over last year, he told the Vietnam News Agency. However, he said, the domestic segment remained sluggish.
![Card image cap](/uploads/news/Infrastructure13.jpg)
REAL ESTATE FIRMS AGGRESSIVELY RESTRUCTURING BOND DEBT
From the start of 2024 to July 5, the market saw 133 private placements and ten bond public offerings, totalling over VNĐ140 trillion. 65.6 per cent of this value was from the banking sector, while real estate bonds accounted for only 24.6 per cent, or over VNĐ34.5 trillion.
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.