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Four advantages to help T&C sector achieve targets in 2009
Jan '09
At a conference on January 5, Mr. Le Tien Truong, Deputy General Manager of Vietnam National Textile and Garment Group predicted that in 2009, the textile and garment industry would face with more difficulties and exports from the industry are likely to dip by as much as 15 percent, due to which it would be difficult to meet the export targets set for 2009.

According to him, the visible challenges to the industry originated from the financial crisis and economic downturn globally which has affected sales of Vietnamese high quality products because the consumers have tightened their pockets. The opening of Vietnamese markets under WTO commitments has put more pressure on enterprises in domestic market.

However, thanks to the long-term development strategy based on the four inherent advantages of the textile and garment sector like quality, price, good labour relations and environment-friendly production facilities and which is also acknowledged by foreign partners, brings hope to the sector of achieving a growth rate in 2009 vis-à-vis 2008.

The whole industry in general and Vinatex in particular will focus on improving productivity and save on every conceivable aspect to improve the cost competitiveness in order to meet the challenges from other countries head on. He also advised companies to expand to other markets like Middle East, East Europe and Africa to lessen the dependence on traditional markets.

Fibre2fashion News Desk - Vietnam

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