Vietnam’s garment and textile sector is eyeing export earnings of 10.5 billion USD in 2010 and 17 billion USD in 2015 despite continuous impacts from the global economic recession and fierce competition in the field.
The targets were revealed at a meeting discussing the sector’s 2010 and 2011-2015 plans in Hanoi on August 19.
According to Chairman of the Vietnam Textile and Apparel Association (Vitas) Le Quoc An, the sector, though seeing improvements in exports in the second and third quarters, will continue to face difficulties.
The Vitas official predicted that the export value would decrease gradually in the remaining months of the year to stand just equal to the 2008 figure of 9.1-9.2 billion USD.
Vu Duc Giang, Director General of the Vietnam Garment and Textile Group (Vinatex), warned that forex rate fluctuations and instability in the international market will work to the disadvantage of the sector as it has to import up to 70 percent of raw materials for production.
In Deputy Minister of Industry and Trade Bui Xuan Khu’s view, the national economy will embark on recovery in 2010, so Vitas and Vinatex need to increase exports at least at the rate of 12 percent a year from now on.
The trade official urged the two organisations to focus on solutions regarding production and consumption as well as promotion programmes to seek new markets to realise the sector’s goals as planned./.
The targets were revealed at a meeting discussing the sector’s 2010 and 2011-2015 plans in Hanoi on August 19.
According to Chairman of the Vietnam Textile and Apparel Association (Vitas) Le Quoc An, the sector, though seeing improvements in exports in the second and third quarters, will continue to face difficulties.
The Vitas official predicted that the export value would decrease gradually in the remaining months of the year to stand just equal to the 2008 figure of 9.1-9.2 billion USD.
Vu Duc Giang, Director General of the Vietnam Garment and Textile Group (Vinatex), warned that forex rate fluctuations and instability in the international market will work to the disadvantage of the sector as it has to import up to 70 percent of raw materials for production.
In Deputy Minister of Industry and Trade Bui Xuan Khu’s view, the national economy will embark on recovery in 2010, so Vitas and Vinatex need to increase exports at least at the rate of 12 percent a year from now on.
The trade official urged the two organisations to focus on solutions regarding production and consumption as well as promotion programmes to seek new markets to realise the sector’s goals as planned./.
