Seminar seeks to enhance textile firms’ effectiveness

At the event. (Photo: VNA)

Hanoi (VNA) – Solutions to improve the management efficiency of textile enterprises in the new context were the focus of a seminar held in Hanoi on August 16.

Organised by the Hanoi Promotion Agency (HPA), the seminar aims to enhance the connectivity and effectiveness of the firms' production and business activities.

Textile exports hit around 22.3 billion USD in the first six months of this year, up 17.7% compared to the same period last year. The trade surplus was estimated at 8.86 billion USD in the period, an increase of 32% year on year.

This is attributable to the great efforts by textile and garment enterprises in the context that the world economy still has many difficulties, said HPA Deputy Director Le Tu Luc.

Participants said that it is necessary for the textile and garment industry to adopt solutions to attract investment, especially for projects that use environmental-friendly materials.

The management capacity and human resources for textile firms should be strengthened at the same time, they said, adding that it’s essential for enterprises to promote their brands, market new products and diversify the supply of raw materials and export markets.

Nguyen Anh Tuan, deputy head of the Foreign Investment Agency under the Ministry of Planning and Investment, said joining free trade agreements (FTAs) is opening up opportunities as well as posing challenges to Vietnam’s textile and garment industry.

He also pointed to a lack of connection in the industry. Fabrics produced domestically can only meet nearly 50% of the demand, causing Vietnam to import materials worth more than 10 billion USD each year. 

It is a must for textile firms to establish a value chain because new-generation FTAs set requirements on rules of origin, yarns and fabrics must be produced in Vietnam or in FTA countries to enjoy tax incentives, Tuan said./.