Vinatex Urged to Seek More Contracts
The Ministries of Finance, Industry and Trade and relevant agencies are urged to allocate cash from the trade promotion fund to the Vietnam Garments and Textiles Association and Textile and Garment Corp (Vinatex) to seek for more contracts.
The government has urged Vinatex after more than two million workers are at risks of joblessness due to lacking orders.
The PM requested the trade promotion must be carried out right in the first half in order to increase the number of orders and ensure jobs in the final half of the year.
Reportedly, more than two million workers in garment and textile sector have been laid off or have their hours and wages cut so far this month due to sharp drop off in new orders amid the global downturn.
Nearly 70 per cent of garments and textiles export businesses have reported sharp decline in orders from major export markets, namely the U.S. and the EU, according to the Vietnam Textile and Apparel Association (Vitas). (VIR)
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