More than 70 percent of Vietnam’s total export turnover belongs to foreign-invested enterprises (FIEs), while Vietnamese enterprises still cannot join the global value chain. However, for export products, it only does outsourcing for foreign partners. Hoa said the biggest problem for Vietnam’s garment producers is that they have to import input materials. Since Vietnam’s fashion design industry is still weak, Vietnam’s products cannot attract customers. Anh warned that the national economy would fall into the ‘outsourcing trap’ of low added value if the situation does not improve.

Source: VietNamNet News February 07, 2017 07:18 UTC