Favourable conditions for the garments & textiles

The Ministry of Industry and Trade has predicted that Vietnam will reach an export turnover of US$48.1 billion this year, up 20.5% against last year’s figure and higher than the set target of US$46.7 billion. According to the Ministry more than 75% of the set target is already fulfilled.

Domestic enterprises fetched US$15.4 billion in export turnover, making 44% of the country’s total export turnover while foreign-invested enterprises earned US$19.8 billion from exports, accounting for 56% of the total export turnover. According to the statistics, garment and textile exports earned US$5.8 billion, up 32% against the same period last year, making these products the country’s leading export items.

It is estimated that garment and textile export turnover will reach US$7.5 billion this year, up 20%. Nguyen Van Thong, Deputy Director of Hoa Tien garment and Textile Company, called on the Government to develop policies to create more favourable conditions for the garment and textile sector.