Thailand Enterprises Plan To Set Up Textile And Garment Factories In Vietnam
Under the pressure of market competition, Thailand's textile and clothing enterprisers plan to establish factories in Vietnam and other countries in Southeast Asia.
Pattanasethpong, former president of the Thailand Garment Manufacturers Association (TGMA), said that garment manufacturers should consolidate their production capacity and expand their production in foreign markets to enhance their competitiveness.
Due to lack of
The labor
Resources and basic logistical services, many of Thailand's textiles and
Clothing enterprise
Seeking investment opportunities in ASEAN countries.
Pattanasethpong added that Vietnam and Indonesia are among the leading countries in Thailand to choose their investment plans.
By the end of the third quarter, 5 factories in Thailand could migrate to the Vietnamese market, which is due to Thailand.
Production costs
Growth.
These five businesses include HongSeng knitting, hi tech clothing company, exquisite clothing company, liberty clothing company and Jintai industry company.
Their clothing factories in Vietnam are expected to be operational this year to attract about 24000 local workers.
Many other companies will expand in low labor cost markets, such as Vietnam, Bangladesh, Kampuchea and Burma.
At present, there are 1600 textile and garment factories in Thailand, and the number of factories in 2005 is 2600.
If labor costs continue to rise, the number of textile and garment factories in Thailand will be reduced to 500-600 in the next 5 years.
The apparel manufacturers association of Thailand set up at least 5% growth in the textile and clothing industry in 2011.
Last year, Thailand garment manufacturers reported that total revenue grew to $3 billion 200 million.
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