VN textile industry proposes to review development plan

YarnsandFibers News Bureau 2016-12-27 14:00:00 – Hanoi

In the five years from 2010 to 2015, the Vietnam textile industry held a growth rate of export value at 15 percent per year. This year export value is expected to reach $29 billion.

The target in export value was much lower than the figures in reality and the development plan was not suitable with the real development of the industry. The textile and garment industry was slated to reach US$20 billion in export value in 2015, but the industry hit an export value of $27.5 billion.

The Vietnam Textile and Apparel Association has proposed the Government and related ministries and sectors to review the development plan for the garment industry by 2020 to support local textile and garment enterprises in taking opportunities as well as overcoming challenges from free trade agreements.

Renovation of the development plan for the textile and garment industry by 2020 and towards 2030 is necessary because the industry expects to enjoy many advantages in development over the next 10 years.

The adjustment of the plan should be effective until 2025, and towards 2040.

The association has also suggested the Government, the Ministry of Industry and Trade and the Ministry of Planning and Investment to build development plans for the industry, including a development plan on industrial zones.

As many small textile and garment firms have not been concentrated in specialized zones for the textile and garment sector, which led to difficulties in the management and treatment of waste water. This factor is related to the industry’s sustainable development and protection of the environment.

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