Vietnam has become an ideal investment place for Japanese clothing and textile traders

Due to reasonable labor costs, Vietnam has become an ideal investment destination for Japanese clothing and textile traders, said a senior official of the Japan International Cooperation Agency.

The official of the Japan International Cooperation Agency Koyama made this remark at the consultation on the export of clothing and textiles to Japan on April 26 in Hanoi.

Xiaoshan said that many Japanese investors are pointing to China plus a commercial strategy and establishing other production lines instead of only focusing on China, which can diversify their supply sources. Vietnam is one of the destinations that attracted their attention.

In response to the sustainable growth of Vietnam's garment and textile exports, Xiao said that Japan’s partners can help Vietnam build capacity, train managers and labor.

The Ministry of Industry and Trade of Vietnam reported that in 2010 Vietnam’s export of garments and textiles to Japan reached US$1.2 billion, accounting for 11% of the country’s total exports. At present, Japan is Vietnam's third largest importer of clothing and textiles, second only to the United States and the European Union.