The Ministry of Industry and Trade has come up with an eight-year plan for Vietnam’s textile and garment industry to attain annual production growth of 16-18% in the years ahead.
A worker at a textile and garment factory (Photo: TTO)
Other targets include more cotton planting in different areas and more focus on improving the yield and quality of cotton wool for the textile mills.
With export revenue of US$5.8 billion for the industry in 2006, Viet Nam has become the world’s tenth biggest exporter of textiles and clothing.
The ministry’s target for this year is US$7.5 billion, an increase of 28.5%.
Other news
Vietnam enjoys trade surplus of US$2.5 bln in four months
Capital flow into real estate should not be blocked
Private enterprises too dependent on crony culture
Vietnam starts e-invoice program nationwide
First quarter economic review
WB downgrades growth forecast for Vietnam to 5.3 percent
Online retail popular in pandemic
Gov’t to loosen monetary, fiscal policies in 2022
Vietnamese sugar failing to compete on home ground