Garment, textile exports likely to exceed US$1b plan

As markets currently showed its positive sign, Vietnam’s exports of garment and textile are predicted to reach US$35 billion in the year, exceeding the plan by US$1 billion, said the Vietnam National Textile and Garment Group (Vinatex).

Vietnam's garment, textile exports likely to exceed US$1b plan (Photo: SGGP)

Vietnam's garment, textile exports likely to exceed US$1b plan (Photo: SGGP)

The sector’s key markets are the US, EU, South Korea, China, ASEAN and member states of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which have seen the rapid growth compared to the same period last year. The US maintained the biggest market of Vietnamese clothing. Next is Japan, South Korea and China.
To achieve the plan, Vinatex has encouraged businesses to invest in technologies and production assembly to increase productivity as well as train workers .
Moreover, garment and textile enterprises should spend more on design, increasing the original design manufacturer (ODM) rate to raise the added value of products.

By VAN DIEU – Translated by UYEN PHUONG

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