Garment sector eyes US$34b exports

Le Tien Truong, general director of the Vietnam National Garment and Textile Group (Vinatex), said this target was set despite difficulties in markets at home and abroad. He was speaking at a meeting on reporting Vinatex’s results of production and business in Hanoi on January 2. In 2018, Vietnam’s textile and garment industry will face more competition, while other textile exporting countries in the world plan to maintain their market shares in the world garment market, as well as expand their market shares further, Truong said. The local textile and garment industry must be careful with the anti-dumping story, he said. To achieve the target of more than 10% growth in 2018, Vinatex’s general director said that the textile and garment industry must make great efforts to focus further on solutions to increase labour productivity. He said that Vietnam’s textile and garment industry stands at a good position in the world garment market. The major buyers of the world consider Vietnam as the supply centre and give priority to Vietnam in supplying garment products to them. Vietnamplus quoted Truong as saying that “Vietnam is the world’s largest producer of men’s and women’s suits.” “Moreover, Vietnam has had experience in converting from a production method of processing to an FOB (free on board) and ODM (original design manufacturer). Now, the processing has reached only 30-35% of production, while FOB has accounted for 55-60% and ODM producing textile and garment products, from designing to finished-products, has occupied 10%,” he said. In addition, the industry should continue to…

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