Emerging Business Opportunities In Vietnams Textile And Garment Industry PDF Download

Deforestation-free production will be a requirement of the global market from now through 2030. More than 1,000 financial institutions (e.g. banks, trusts, donors) and 600 multinational companies have pledged to produce and supply zero-deforestation agricultural products, and these establishments (financial institutions and multinational companies) are developing a process of testing, screening and certification for service providers and countries that produce or export agroforestry products. The governments of European countries, the Americas and Australia are also aggressively building a legal framework to monitor and verify that imported goods have not resulted in deforestation or forest degradation.In Vietnam, 92 domestic and foreign companies from 21 fields and industries have signed commitments to achieve zero deforestation by 2020. These industries include: fashion (apparel and footwear); agriculture; cosmetics and personal care; food and agriculture; retail chains; home construction (furniture and flooring, and renovation supplies); consumer goods; paper and packaging; printing and publishing; and automotive industry (rubber, automobile manufacturing). These companies contribute greatly to the national GDP and local economic development, and are major buyers of agricultural products including coffee, wood, soybeans and poultry.However, businesses in Vietnam are not prepared to adapt the supply chain of agroforestry products to this trend; they require knowledge and skills to face the new market requirements. Without further research and long-term planning, Vietnam's agroforestry products industry is at risk of losing market share to fierce international competition, leading to enormous economic losses for the country.The government needs to develop a legal framework to support and monitor companies that meet deforestation-free commitments, while building the capacity of stakeholders to respond to the requirements of new markets, in order to ensure a solid position for agroforestry products and their sustainable contribution to the national economy over the next 30 years.