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VITAS urges Vietnam government to review strategies for industry

The Vietnam Textile and Garment Association (VITAS) has asked the government and authorities to review and adjust development planning for the sector. Under the current planning, though the industry's export value was targeted to reach $20 billion by 2020 but the figure exceeded $27 billion in 2015 and is expected to hit $31 billion this year. From 2010 to 2015, the industry had stable export growth of 15 per cent per year.

Vietnam's demographics – a population structure with more than double the number of working age than dependents was advantageous for expansion of the sector. Hence, the government should help the industry keep up with the country's integration and make use of the abundant resources. To help textile and garment firms take advantage of opportunities and overcome challenges brought by free trade agreements, VITAS suggested the government should update the sector development strategy that was approved by the then Prime Minister in 2008 and Ministry of Industry and Trade in 2014. The association proposed chalking out of a development strategy to 2025 with a vision towards 2040. It also asked the government, to group textile and garment enterprises in concentrated industrial parks. Currently, there are several textile and garment industrial zones in the northern provinces of Hung Yen, Thai Binh and Nam Dinh and the southern province of Dong Nai and Binh Duong, which cover a few hundred hectares each.

Finally, VITAS asked the government to allow the establishment of textile and garment industrial zones to draw domestic and foreign capital.

 
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