Home / Knowledge / News / Apparel/Garments / Experts urge Vietnam govt to support garment industry
Experts urge Vietnam govt to support garment industry
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

Mike Preston, executive director of the Arkansas Economic Development Commission (AEDC), signing MoU with Tang from Suzhou Tianyuan Garments company. Courtesy: Government of Arkansas

Apparel/Garments | On 21st Oct 2016

Suzhou Tianyuan to open $20 mn garment factory in US

Suzhou Tianyuan Garments company, a Chinese manufacturer of casual...

Textiles | On 21st Oct 2016

Pakistan’s textile exports fall 5.96% y-o-y in Q1 FY17

The value of textile and garment exports made by Pakistan decreased...

Textiles | On 21st Oct 2016

ITMA Asia + CITME 2016 opens with record exhibitors

The fifth ITMA ASIA + CITME 2016 exhibition opened today in Shanghai, ...

Interviews View All

Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Robert Brunner

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

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

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


Browse Our Archives


Advanced Search