One of the world’s leading providers of high quality dyes and chemicals to the textile and related industries, Huntsman Textile Effects is increasing its footprints in Vietnam. Its latest venture in the country is a bonded warehouse near Ho Chi Minh City which will open later this month.
The new facility is part of Huntsman’s efforts to address critical business challenges and collaborating with mills and brands in order to drive sustainable growth and create value in Vietnam’s textile industry, the company said in a statement.
“Vietnam’s textile industry continues to face economic and environmental pressures. To help customers stay ahead of the game, Huntsman Textile Effects recognises that speed and flexibility are top priorities across the textile value chain. We are fully committed to Vietnam’s textile growth story and are pleased to announce the opening later this month of a new bonded warehouse near Ho Chi Minh City,” said Paul Hulme, president of Huntsman Textile Effects.
According to the statement, customers will benefit from shorter order lead times and a quicker response to ad hoc deliveries through the new facility. The warehouse positions Huntsman to support customers’ growth objectives when free trade agreements like the Trans-Pacific Partnership (TPP) are formalised.
The multi-user facility is located in the inland container depot (ICD) at Long Binh. The warehouse is scalable to meet industry growth potential.
Vietnam is the second largest garment exporter to the US and Japan. The industry currently accounts for 14 per cent of Vietnam’s total exports. The country’s textile value chain has strong growth fundamentals, with production poised to grow by about 13 per cent annually until 2020. Current challenges include import-dependent sourcing of raw materials and tougher environmental regulations.
Huntsman Textile Effects is already supporting the textiles sector in Vietnam through its work with Panko Vina in implementing a productivity improvement program (PIP). The plant has already adopted new technologies from Huntsman Textile Effects to save energy and water. The program will enable Panko Vina to optimise and standardise its processes and work practices to gain maximum benefit from these advanced systems and further improve yield and product quality. The PIP also reinforces the knitwear mill’s growth as a sustainable export business. (SH)