The textile and garment sector in Vietnam attained an annual export revenue growth of 15 per cent between 2010-2015 period. The sector is projected to grow strongly in the next decade owing to bilateral and multilateral trade agreements the country has signed, especially the Trans-Pacific Partnership. The industry’s shipments was worth $27.5 billion last year and is expected to touch $31 billion this year.

Large scale industrial parks, better traffic infrastructure, effective management of waste water treatment and environmental issues, and stable policies for taxes, fees and wages, and streamlined customs procedures are important factors for sustainable development of the industry. The industry needs large-scale industrial parks for domestic and foreign-invested producers of fiber and cloth and dyeing enterprises. Enterprises want loan interest support to invest in integrated wastewater treatment facilities.

Improved waterways and road connectivity between large-scale parks for apparel firms and ports and logistics centers will help enterprises in the sector lower costs. Since apparel importers are shifting orders to markets with abundant low-cost labor, the industry wants to adjust the master zoning plan for textile and garment industry development until 2020 with a vision toward 2030.

The country’s deeper international integration will enable the industry to bank on opportunities.