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VN garment-textile sector aiming for 10 pc growth this year

YarnsandFibers News Bureau 2018-03-14 10:00:00 – Hanoi

Vietnamese garment-textile sector inspite of huge challenges in the global market are eyeing eyeing for a growth of 10 percent in 2018. The sector earned 4.3 billion USD from exports in the first two months this year, up 22.3 percent year on year.

To realize the target, the sector plans to improve product quality and ensure on-schedule deliveries at reasonable prices to enhance its competitiveness, said Le Tien Truong, Director General of the Vietnam National Textile Garment Group.

The use of technology will also be enhanced to increase automatic production, as well as IT-based management and workers’ skills.

Nguyen Xuan Duong, Chairman of the Director Board of Hung Yen Garment Corporate underlined the challenges faced by the sector, said that export prices may fall, while production costs increase.

Duong said that enterprises need to devise measures to become more productive and reform their management.

However, Vietnamese garment-textile sector is forecast to face huge challenges and fierce competitions particularly this year from China, Myanmar and Cambodia.

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