Vietnam’s garment-textile export turnover is projected at 38-39 billion USD in 2021, Le Tien Truong, Chairman of the Vietnam National Textile and Garment Group (Vinatex) said on December 29.
The Vietnam National Textile and Garment Group (Vinatex) aims for an annual growth rate of 8 – 10 percent in production value, revenue and export value in the period from now to 2025, according to the group’s chairman of the board Le Tien Truong.
The Vietnam Textile and Garment Group (Vinatex) forecasts the country’s textile and garment exports will continue to decline by 14-18 percent each month for the rest of 2020 over the same period last year.
The COVID-19 pandemic dragged down the revenue of the Vietnam National Textile and Garment Group (Vinatex) by 36 percent year-on-year in the second quarter, to just over 3.08 trillion VND (133 million USD).
The Vietnam National Garment and Textile Group (Vinatex) eyed a 12 percent increase in profit this year despite various challenges arising from the US-China trade war, Vinatex General Director Le Tien Truong said.
Vinatex must innovate its technologies as soon as possible in order to increase its market share, said General Director Le Tien Truong, a shareholders’ meeting held in Hanoi on June 29.
The Ministry of Industry and Trade should further clarify weaknesses and bottlenecks in the current development of industries so as to have a better plan on industrial restructuring.
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