Vietnam Eyes Bigger Garment, Textile Export

Vietnam has set to make garment and textile export turnovers of US $15 billion this year, up from US $13.8 billion last year.

 

Many local enterprises have so far this year signed export contracts for the end of the 2nd quarter of this year.

 

They have received orders for the whole year from many traditional, according to Mr. Vũ Ðức Giang, Chairman of the Vietnam Textile and Apparent Association (Vitas) and Chairman of the Vietnam National Textile and Garment Group (Vinatex).

 

To achieve the set target, Vietnam plans to focus on equitizing Vinatex, encouraging local firms to produce more added-value items with their own brand names (increasing their FOB rate to some 50% by 2015 from the current 38%), and calling for more investment in weaving and dyeing areas, said Mr. Giang.