The belt and road initiative and its perceived impacts on the textile and garment industry of Vietnam

The main purpose of this study was to find out the perceived impacts on the garment and textile industry of Vietnam from the Belt and Road Initiative (the BRI), a global-scale developmental and trade facilitation policy of China. The research applied both desk review and in-depth interviews with 54...

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Bibliographic Details
Published in:Journal of open innovation 2019-09, Vol.5 (3), p.1-14, Article 59
Main Authors: Le, Quoc An, Tran, Van Ai, Nguyen Duc, Bao Long
Format: Article
Language:English
Subjects:
21st century
Clothing industry
Development banks
Economic development
Economic growth
Garments
GDP
Gross Domestic Product
Infrastructure
Initiatives
Logistics
Manufacturing
Playgrounds
Public administration
Roads & highways
textile and garment industry
The Belt and Road Initiative
the BRI
the OBOR
the One Belt One Road Initiative
Vietnam
Xi Jinping
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Summary:The main purpose of this study was to find out the perceived impacts on the garment and textile industry of Vietnam from the Belt and Road Initiative (the BRI), a global-scale developmental and trade facilitation policy of China. The research applied both desk review and in-depth interviews with 54 leaders and high-ranked officials from public and private sectors in 2017 to identify potential impacts of the BRI on the Vietnam textile and garment industry. In addition, perceived challenges and opportunities of the BRI were also examined. Respondents from both sectors agreed that the initiative could foster textile export and the development of infrastructure. Apart from that, the main challenge is recognized as the poor competitiveness of Vietnamese textile firms on the international commercial playground. Solution insights that were offered through interviews suggested that the competence of domestic apparel brands and establishment of ODM (Original Design Manufacturing) and OBM (Own Brand Manufacturing) business models in Vietnamese textile producers may play the key roles in coping with the new challenges and in grasping opportunities that the initiative has to offer. From the perspective of the state, an improved public administration system is perceived as the key element in supporting the enterprises for upcoming challenges.
ISSN:2199-8531
2199-8531
DOI:10.3390/joitmc5030059