Vietnam garment-textile production sees upward growth trend

YarnsandFibers News Bureau 2014-02-11 16:00:00 – HANOI

The Vietnam Ministry of Industry and Trade have reported the highest growth rate in the garment-textile industry among all industries in January. The production index of national garment-textiles during the month of January 2014 has increased by 26.9 percent over the same period in 2013.

According to the report, importing textiles and garments worth US$2.5 billion from Vietnam in the first four months of 2013, the US remained the biggest importer of Vietnamese textiles and garments. It was followed by Japan with US$664.43 million and the EU with US$664.77 million.

Vietnam’s textile and garment sector has seen fast and sustainable growth over the past years, playing an important role in national socio-economic development.

Le Tien Truong, Deputy General Director of the Vietnam National Textile and Garment Group (Vinatext), attributed the positive result to a large number of contracts won by major firms in the sector during late 2013.

Many enterprises invested highly in expanding production items last year and to keep production going kept enough workers, offering attractive salaries and bonuses thus increasing their production, Truong added.

According to his projection, the sector will continue thriving this year, with a clear possibility of reaching 12 percent in export value as it focuses on developing textile and garment industry in the direction of specialisation and modernisation.

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