Industrial Cluster: Cambodia Promotes International Competitiveness Of Textile And Clothing Industry

2022/3/1 12:49:00 0

Cambodia is fighting for the share of global textile and clothing.

According to the Ministry of finance of Cambodia, a textile and clothing trade development plan will be launched in the near future, aiming at enhancing the international competitiveness of the industry, realizing dynamic management of enterprises, diversified development of products and marching towards the direction of high value and high production capacity. According to customs data, Cambodia's total exports of clothing, footwear and tourism in 2021 will reach US $11.38 billion, an increase of 15.2% year-on-year.

Therefore, the plan will be carried out around the following three points:

1. Improving workers' skills and providing welfare policies

2. Update production equipment and technical port, improve the output of high quality and high value-added products.

3. As the proportion of foreign direct investment has reached 95%, leading to unbalanced industrial development, the number of domestic investors will be increased.

The Ministry of Finance said that the clothing industry has always been one of the important economic pillars of Cambodia, but in the past 20 years, the output of high value-added products was too low, and the market competitiveness was weak compared with Bangladesh, Vietnam, Myanmar and other countries. On the whole, although the export of goods shows a growth trend, there are still some factors that affect the development of the industry, such as the production environment, production technology, transportation costs and so on.