Japanese enterprises plan to enter Vietnamese market

As Vietnam has great potential of fashion consumption, Japanese enterprises will flock to the country, said Hironobu Kitawata, director of JETRO, or the Japan External Trade Organization, a government-related organization that works to promote mutual trade and investment between Japan and the rest of the world.

Japanese businessmen said that Vietnam has great consumption for clothing and fashion because the rate of youths accounts for 60 percent of total population. People of middle age have buoyant demand of fashion.

In addition, the demand of fashion has increased when their income soared. Current gross domestic product (GDP) per capita in Vietnam is US$5,370 and it strives to raise to US$15,000 and US$18,000 by 2035 and 2040 respectively.

14 Japanese enterprises introduced their products to Vietnamese consumers with average income. Entrepreneurs said that their products have not accessed to Vietnamese consumers’ demand yet a representative from a textile company in Vietnam said that the problem will be solved when Japanese enterprises have penetrated deeply into domestic market. Japanese clothing & fashion accessories have many favorable conditions as its production materials are safe for consumers.

By Chau Anh - Translated by Uyen Phuong