Vietnam Strives for US$15Bln Garment Export in 2015

Vietnam targets to earn US$15 billion from garment and textile exports in 2015, nearly three times higher than this year’s anticipated figure of US$5.5 billion and US$4.8 billion last year, according to the Vietnam Garment & Textiles Corporation (Vinatex). 

 

The country also expects to gain US$5.5 billion from domestic sales in the year, the corporation said.

 

To reach the target, Vietnam will reduce its heavy reliance on material imports by intensifying cotton and synthetic fiber production. It will also focus on tapping traditional markets, exploring new ones, and urging local producers to more actively build and promote trademarks both at home and abroad.

 

Vietnam, which was ranked the 16th out of 153 garment exporters worldwide last year, is likely to become the 10th largest garment exporter in the world by 2010.