Hanoi (VNA) – The textile and garment industry development planning to 2020 with a vision towards 2030 has set to earn an export value of 20 billion USD by 2020, which is seen as a setback when it already achieved the value of 27.5 billion USD in 2015 and expects 31 billion USD this year. As the industry has sustained a stable export value growth of 15 percent in 2010-2015, the Vietnam Textile and Garment Association (Vitas) has suggested that the Government adjust the development planning for the industry, enabling it to obtain more success. Deputy Minister of Industry and Trade Ho Thi Kim Thoa pointed to the current trend that the global textile and garment producers are moving to production areas with advantageous labour force and lower production costs. The industry should make changes to its planning as it is enjoying fresh, lucrative development opportunities stemming from the country’s joining of bilateral and multilateral free trade agreements, she said. Vitas Chairman Vu Duc Giang said the country is having an advantageous productive working-age population, which would greatly support the textile and garment industry’s expansion so the Government should devise a strategy towards making the industry keep up with the… Read full this story
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