Countries like Vietnam, Myanmar, Bangladesh and Cambodia are expeditiously making mark on the global apparel and textile industry by improving their productivity, incorporating latest technologies, reframing policies, and thereby making the international market even more competitive. Thus, to be among the leaders in global T&C industry, the Foreign Buyers Association Philippines (FOBAP) has asked for Government’s support in the growth of garments and hard goods sectors as it aims at group’s export sales of garments to hit US $ 1 billion in the year 2016, while of hard goods at a US $ 200 million.
The association informed that among the major roadblocks hampering growth of the Philippines’ garments and hard goods sectors are high power cost, wages and financing and that other Southeast Asian countries such as Myanmar, Cambodia and Vietnam partly subsidize power, wages and financing cost of their dollar-earning industries.
Also Read – Philippines Apparel and Footwear Market to touch US $ 4.5 billion-mark by 2019
FOBAP President Robert Young said, “The direction of the Philippine garments industry is towards the middle to high-end markets. The basic ones are not really any more attractive to the buyers because of obstacles and roadblocks that are present in the garment industry.” He further emphasized that the industries need to upgrade the skills of the workers as the machines being used by the neighbouring Asian companies are already advanced.
Along with that, FOBAP pushed for the country’s massive investment in infrastructural development to meet import orders along with improved and upgraded ports facilities to smoothen the export processes.
