(VOVworld) – Vietnam’s textiles and garments exports in the first half of this year earned 9 billion USD. The figure was reported at a press conference held Tuesday in Hanoi by the Vietnam National Textile and Garment Group (Vinatex). The US is currently Vietnam’s biggest market for textiles and garments, worth 4 billion USD, followed by the EU, Japan, and South Korea. The strong result reflects the growing competitiveness of Vietnamese products in the world market.
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Le Tien Truong, Vinatex Vice Chairman, told reporters how Vietnam is pursuing growth: “Our strategic solution is to closely connect production chains. Regarding financial solutions, the subsidiaries will receive funding from the group’s own budget and also from a loan program for restructuring offered by the Asian Development Bank. Vinatex is the sole economic group receiving this kind of incentive. We will promote investment in internal production chains as a basis for developing new models. Investment models of high efficiency and low cost will be standardized and replicated”.