Vietnam’s garment sector has attracted as many as 485 FDI projects worth more than 2 billion USD since the country became a member of the World Trade Organisation (WTO) in 2007.

The sector has also seen an annual growth rate of nearly 22 percent in the five year period, according to Le Tien Truong, Deputy Chairman of the Viet Nam Textile and Apparel Association. 

In the first seven months of 2012, it earned 9.24 billion USD from export, showing a year-on-year increase of 7.6 percent and accounting for 16 percent of the country’s total export value. 

Vietnam has become the second largest garment exporter to the US, third largest to Japan, and fifth largest to the European Union, he said.-VNA