LOCAL garment factories expect to receive new orders worth up to US$500 million from top global fashion brands as they start transferring production orders from troubled Myanmar to the Philippines and other Asian countries, providing huge relief to the pandemic-hit industry.
Foreign Buyers Association of the Philippines (Fobap) president Robert Young said the group has been securing relocated garment and apparel production export orders and inquiries on a fresh buying import program in the past week from buyers like Zeeman Europe, Walmart, T.J. Maxx USA, and Hudsons Canada, among others.
“Rough estimates totalling to US$200 million to date have been booked, and Fobap projects double in quantity in the coming three to four months,” he said.
Young said orders received by Fobap mostly comprise simpler and basic babies’ playwear, men’s athletic and sporting outfits, ladies’ dresses and intimate apparel.
“It’s (orders) there already; it’s being sized up already. It will be on the floor, I think, in about two weeks’ time on production because we have to wait for their fabric, as I said we don’t fabric in the Philippines,” he added.
Young said the expected $500 million worth of transferred orders can bring total exports of garments and hard goods facilitated by Fobap to about $1.7 billion to $2 billion this year.
“With the pandemic still on, this is a big relief to the Philippines’ ailing garment textile and garment sector, translated to additional foreign revenue earnings, significant number of employment generation, and livelihood support,” he said.