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Vietnam eyes US $ 40 billion in textile and garment exports

Counted amongst the leading garment and textile exports destinations, Vietnam is all geared up to march ahead in the race.

Vietnam Textile and Apparel Association (VITAS) is eyeing an export turnover of US $ 40 billion, a 10.8 percent year-on-year growth.

Interestingly, employment will be ensured and income for 2.85 million workers would be increased, said VITAS.

In the year 2018, export turnover of garments and textiles products surpassed US $ 36 billion, making a year-on-year growth of 16 percent.

In addition, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which came into effect last month, is expected to help the economy grow by 1.3 per cent and boost export turnover by 4 percent.

“The sector has gradually completed the supply chain thanks to increasing flow of capital invested in the textile and dyeing industry, making its products more competitive,” said VITAS.

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