Home / Knowledge / News / Apparel/Garments / Experts urge Vietnam govt to support garment industry
Experts urge Vietnam govt to support garment industry
23
Feb '12
The Vietnamese Government has been urged to support the country's textile and garment industry by providing tax holidays, financial support and also by implementing policies to boost the sector's growth.

Speaking at a seminar organized by the Financial Policies and Strategy Institute and the Institute for Industry Policy and Strategy, Ministry of Finance's Duong Thi Nhi said the Government should concentrate on textiles, garments and other industries that enjoy several natural advantages, but still are not in a very good state.

Citing an example, he said, textile and garment exports from Vietnam were valued at US$ 6.16 billion during the initial six months of 2011, against which its imports, mainly comprising of raw inputs and accessories were valued at US$ 5.76 billion. Thus, the industry's net export value was just US$ 400 million.

Institute of Finance's Dr. Nguyen Thi Lan said the Government has created favourable atmosphere for investment in six specified sectors, called support industries, by both domestic as well as overseas investors.

Although these support industries enjoy exemption from paying duty on import of raw inputs for production and scientific research, they are still in a fragile state as they need to import about 80 percent of their raw material requirements from other countries.

This, he said is hindering the country's economic growth, as the country needs to spend billions of dollars for imports. Hence, he urged the Government to implement appropriate measures to support the country's textile and garment industry and to reduce its dependence on imports.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 28th Jul 2017

DuPont launches new stretchable electronic inks, films

DuPont Advanced Materials has announced availability of its newest...

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X