PHNOM PENH, March 16 (Xinhua) -- Garment, the foremost pillar industry of Cambodia, is expected to recover from the attack of the global financial crisis in the second quarter of this year, the Chinese-language newspaper the Jian Hua Daily reported on Monday.
"I think in the second quarter we will be able to maintain orders at the current level if we make factories more competitive," the newspaper quoted Van Sou Ieng, the just re-elected chairman of the Garment Manufactures' Association of Cambodia (GMAC), as saying.
Garment orders were down by 40 percent in the first two months this year, compared with the same period of last year, due to much less demand from the traditional markets, namely U.S. and Europe, he said at the annual meeting of GMAC on Sunday.
GMAC, which represents the majority of the kingdom's garment factories, plans to meet with buyers from Hong Kong on March 26 to press for orders.
"I will encourage buyers to increase orders of textiles from Cambodia, because they have already recognized the reputation of our country for respecting labor standards," said Van Sou Ieng.
"We must help garment factories increase quality so that they are able to compete with other countries. That means improving transportation and reducing bureaucracy," added the chairman.
About 70 garment factories have closed since the global financial crisis occurred in August, and more than 51,000 workers have lost their jobs or seen their contracts suspended, according to GMAC.
Last week, Commerce Minister Cham Prasidh told a press conference that garment exports produced revenues of only 70 million U.S. dollars in January, compared with 250 million U.S. dollars in the same month in 2008.
Garment used to generate about 70 percent of the country's annual export volumes and employ some 300,000 people.
"I think in the second quarter we will be able to maintain orders at the current level if we make factories more competitive," the newspaper quoted Van Sou Ieng, the just re-elected chairman of the Garment Manufactures' Association of Cambodia (GMAC), as saying.
Garment orders were down by 40 percent in the first two months this year, compared with the same period of last year, due to much less demand from the traditional markets, namely U.S. and Europe, he said at the annual meeting of GMAC on Sunday.
GMAC, which represents the majority of the kingdom's garment factories, plans to meet with buyers from Hong Kong on March 26 to press for orders.
"I will encourage buyers to increase orders of textiles from Cambodia, because they have already recognized the reputation of our country for respecting labor standards," said Van Sou Ieng.
"We must help garment factories increase quality so that they are able to compete with other countries. That means improving transportation and reducing bureaucracy," added the chairman.
About 70 garment factories have closed since the global financial crisis occurred in August, and more than 51,000 workers have lost their jobs or seen their contracts suspended, according to GMAC.
Last week, Commerce Minister Cham Prasidh told a press conference that garment exports produced revenues of only 70 million U.S. dollars in January, compared with 250 million U.S. dollars in the same month in 2008.
Garment used to generate about 70 percent of the country's annual export volumes and employ some 300,000 people.
2 comments:
I wouldn't worry about Cambodia garment sector. No matter how bad the world economy is. People will always needs sock, undershirt, underwear, pijama, .... , and shoes.
On the other hand, if we were making luxury goods such as cars, PC, ..., and boats, then I would worry.
These son-of-bitches will never handle the truth; however, the truth of the matter is that the garment factory will enormously be affect during the global economic downturn.
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