3:12:58 PM | 22/9/2008
Vietnam will likely be among the world’s top five apparel exporters and producers from now to 2015 if the country secures production and export growth as recent time, said Deputy Minister of Industry and Trade Bui Xuan Khu.
At present, Vietnam is listed among top ten garment producers and exporters in the world.
To reach the goal, Vietnam’s textile and garment sector is planning to grow 40,000 hectares of cotton trees in central and central highland regions to serve its production.
The Vietnam Textile and Garment Group (Vinatex) and other garment enterprises will invest VND6.5 trillion (US$393.93 million) to grow cotton trees and produce synthetic fiber.
In addition, Vinatex is coordinating with PetroVietnam to build the first polyester plant in Vietnam at investments of VND3 trillion. The facility is scheduled for operation in 2011.
The garment sector targets to make export revenues of US$9.5 billion this year, US$10 billion-US$10.5 billion next year, compared with US$7.8 billion last year. (VNA)
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