In the recent 6th Textile Association Convention and Summary Conference in Hanoi, Vietnam, the Chairman Wu Dejiang quoted that the country has set a target of exporting textiles and apparels worth US $ 55 billion by 2025.
It’s worth mentioning here that Vietnam exported textiles and apparels worth US $ 38.9 billion in 2019, which has seen a sharp decline of 9.11 per cent in 2020 to clock just US $ 35.2 billion.
The set export target by 2025 also includes fabric exports of 3.5 billion square metres, while more than 8,500 types of clothing products will be exported.
“We will strive to reach a trade surplus of US $ 33 billion by 2025, with an average annual growth rate of about 11.6 per cent in the period from 2021 to 2025,” said Dejiang.
In order to achieve this goal, during the 2020-2025 period, various associations in the country including VITAS will be committed to synthesising, studying and proposing inadequate policies and mechanisms to the Government and ministries.
There will also be a formation of a better textile supply chain with the help of member enterprises that will aim at meeting the origin requirements of the FTA and linking domestic schools and research institutes with enterprises to train high-quality human resources.
Additionally, it is also recommended that the Ministry of Industry and Trade of Vietnam submits the strategy for the Development of Vietnam textile and Garment Industry 2030-2035 to the Government for approval as soon as possible.
This strategy includes the national plan and the construction of infrastructure for large-scale textile and garment industries, and the construction of centralised wastewater treatment systems to attract colour dyeing projects.