Home / Knowledge / News / Textiles / Govt & textile cos determined to meet 2008 export target
Govt & textile cos determined to meet 2008 export target
29
Sep '08
Recently, it was announced that textile and garment industry has set export target for this year at US $9.5 billion. Last year, Vietnam ranked 10th among the international textile and garment exporters, lagging behind several Asian countries like China, India, Indonesia and Bangladesh.

Experts stressed that Vietnam aims to be among the top five textile and garment exporters by 2015 or atleast by 2020.

Deputy General Secretary, Mr Nguyen Son, of Vietnam Garment and Textile Association told Fibre2fashion, "There are many difficulties the garment sector is currently facing both in local and global markets including rising oil, labour and raw material prices, as well as high bank interest rate and so on. However, in order to survive garment companies have sought out many new ways.”

Mr Nguyen explained, “Priorities are given to production of orders, especially for high value added items by regular customers, so as to keep them with factories. Plants are cutting down all unnecessary expenses. Production is being moved to small town and countryside to solve labour shortage and high wage problem.”

To reach 2008 target, the industry must earn an average of US $850 million per month for the rest of the year. It can be seen that trade has improved and picked up pace in second half of this year. In August alone value earned marked $950 million, much higher than the average export monthly revenue of $700-800 million during the first half of the year.

Mr Son further stated, “The Government is implementing various measures as well. Some steps have been taken to keep inflation down and stabilize macro-economic. Firms involved in export are given priority regarding bank credits, so that factories can manage their inputs and keep production going.”

“Government and companies are making efforts to provide better working and living condition for workers. Local and oversea enterprises are being encouraged to enhance their investment, especially in production of material, fabric and accessories for the garment sector,” he said.

Mr Nguyen Son also said that decreasing over dependence of the companies on the US market was necessary because of the slowdown in the US. Thus, “Manufacturers are being encouraged to concentrate on their customers from the EU, Japan and other markets. Authorities are promoting participation in international trade-fairs, so that companies are able to interact with different importers and attract big orders from countries other than the US.”

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: American Silk Mills

Textiles | On 18th Oct 2017

Sutlej Textiles adds American Silk Mills to its portfolio

Sutlej Textiles and Industries Ltd (STIL) has announced the...

Arvind Limited executive directors Punit Lalbhai (left) and Kulin Lalbhai explaining the project to Gujarat chief minister Vijay Rupani. Courtesy: Arvind Ltd

Apparel/Garments | On 18th Oct 2017

Arvind to set up mega apparel facility in Gujarat

Arvind Limited, one of India’s largest textile to retail...

Cotton stocks accumulating everywhere outside of China

Textiles | On 18th Oct 2017

Cotton stocks accumulating everywhere outside of China

Global cotton stocks outside of China are expected to rise by nearly...

Interviews View All

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Igor Chapurin
Chapurin

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

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

October 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

Active Poll

Do you see sustainability as a route to business growth?

Yes
77.3%
No
13.6%
Skip
9.1%

Total Votes: 66

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

Yes No

Active Poll

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

Yes
60.6%
No
28.8%
Skip
10.6%

Total Votes: 66

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

Yes No

Active Poll

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

Yes
84.8%
No
10.6%
Skip
4.5%

Total Votes: 66

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

Active Poll

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

Yes
74.2%
No
12.1%
Skip
13.6%

Total Votes: 66


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