Prime Minister Nguyen Tan Dung has requested the textile and garment industry to make export turnover of US$10 billion-US$10.5 billion this year and ensure continued employment for the industry’s estimated two million workers.
The government leader made the request at a working session attended by cabinet members, the leaders of the Vietnam National Textile and Garment Group (Vinatex) and the Vietnam Textile and Apparel Association (Vitas) February 23.
The PM said Vinatex needs to complete its financial procedures, speed up the development of its human resources and work closely alongside Vitas to expand its domestic and export markets.
The government plans to provide support to the group by adopting a number of favorable policies regarding exports, labor, finance and taxes, he added.
Whilst acknowledging the difficulties faced by the sector amidst the global economic crisis, the government leader pointed out a number of industry shortcomings, including a failure to make a breakthrough in terms of branding, a low ownership to capital ratio and low rate of localization.
PM Dung requested Vinatex alone to make export revenues of US$25 billion and generate jobs for 5 million people by 2020.
Le Quoc An, Chairman of both Vinatex and Vitas, reported that the sector raked in US$1.15 billion from exports in the first two months of 2009, a 12 per cent decrease on-year.
An said numbers of orders will fall 20 per cent in the first quarter this year and 15 per cent in the second quarter due to the impact of the global economic slowdown, particularly in major markets as the US, the European Union and Japan.
To cope with the challenges affecting the export markets and to ensure the stable employment of up to two million workers, the industry is adopting a host of urgent measures to boost both domestic sales and exports, as well as formulating new policies regarding finances, social security, staff training and technology. (VNA, Labor)
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