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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

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