Thanh Nien Daily, Vietnam
A fashion shop in HCMC. The government is targeting 16-18 percent annual growth in textile and garment production and 20 percent growth in exports over the next two years.
The government is targeting 16-18 percent annual growth in textile and garment production and 20 percent growth in exports over the next two years under a development blueprint for the industry, it announced Friday.
The industry is expected to achieve revenues of US$14.8 billion in 2014, rising to $31 billion in 2020.
It was $7.8 billion two years ago.
It also targets exports of $12 billion in 2014, and $25 billion in 2020, against $5.83 billion in 2014.
To achieve all this, the government is focused on more local raw materials, seeking more investment, improving quality, expanding markets, and intensifying human resource development.
It is encouraging cotton production to meet the domestic demand.
The output is expected to rise to 20,000 tons in 2014 and 60,000 tons in 2020 from just 8,000 tons two years ago.
The government also plans to build textile and garment industrial parks and seek more local and foreign investment in the industry, especially in dyeing, weaving and producing cotton, synthetic fibers and other materials.
It is focusing on improving designs, promoting trademarks both at home and abroad, applying advanced technologies, intensifying quality control, and overcoming export barriers.
The government is building a quality system in line with international standards, helping textile firms with quality control and technical barriers, and setting up a database.
The government announced it would expand traditional markets like the United States, the European Union and Japan, and find new ones.
To develop human resources, it is setting up more training courses in fashion design, fabric analysis and production and sales management, and sending experts and students abroad to attend refresher courses.
It is also simplifying tax and customs procedures, intensifying market surveillance and cracking down on smuggling.
Exports have topped $5.09 billion in the first seven months and are expected to be $9.5 billion for the full year, according to the General Statistics Office.
Reported by Bao Van
