(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.
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”.