Home / Knowledge / News / Textiles / Textile & garment industry revises 2009 preset export targets
Textile & garment industry revises 2009 preset export targets
22
Jan '09
The Deputy Prime Minister of Vietnam, Mr Hoang Trung Hai presided over the online conference of the textile and garment and footwear sector enterprises to work out measures to overcome difficulties and ensure that the industry achieves its targets set for 2009.

According to Mr. Le Quoc An, President of Vietnam National Textile and Garment Group (Vinatex), in 2009, the textile and garment industry will have to cope with two big threats. One, there will be a cutback in spending on high quality products and the second, price competition from other countries.

It is expected that the middle and high priced quality products will face problems as consumers cut down on spending and since the global market pie will shrink due to this, there will be fierce price cutting competition from other countries to grab a slice of the market share.

Moreover, the local manufacturers will have to face competition from other countries in the domestic markets of Vietnam as they are expected to overflow with a large volume of imported products more particularly from China and other Asian countries in the next 3-6 months.

To maintain its position in the international market and safeguard jobs of workers in 2009, the textile and garment industry has revised its preset target of US $11.5 billion and reset it a comfortable target of $9.5 billion, up 5 percent over 2008. The footwear industry also sets its export target at $5.3 billion, up 12 percent y-o-y.

Speaking at the conference, Deputy Prime Minister stressed that textile and garment and footwear are the two main labour intensive industries with a large number of workers, therefore, enterprises must spare no effort to maintain their export markets and at the same time boost demand in domestic markets.


Fibre2fashion News Desk - Vietnam


Must ReadView All

Pakistan govt notifies 50% duty drawback on exports

Textiles | On 21st Oct 2017

Pakistan govt notifies 50% duty drawback on exports

The Pakistan government has notified the ‘Duty Drawback of Taxes...

Ghana sets up task force to clamp down on textile piracy

Textiles | On 21st Oct 2017

Ghana sets up task force to clamp down on textile piracy

Ghana’s ministry of trade and industry has set up a taskforce to...

Courtesy: Coach

Fashion | On 21st Oct 2017

US company Coach to change name to Tapestry from Oct 31

Coach Inc., a New York-based house of modern luxury accessories and...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Headhonchos
Indian textile value chain

Adopt innovative techniques, go for automisation rather than being...

Rikesh Mistry

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

Harsh Shah

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

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Lynda Kelly
Suominen Corporation

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

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Ritu Kumar
Label Ritu Kumar

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
77.1%
No
12.9%
Skip
10.0%

Total Votes: 70

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
61.4%
No
28.6%
Skip
10.0%

Total Votes: 70

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
85.7%
No
10.0%
Skip
4.3%

Total Votes: 70

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
75.7%
No
11.4%
Skip
12.9%

Total Votes: 70


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