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Prepare development strategy to 2025: VITAS tells govt
25
Aug '16
The Vietnam Textile and Garment Association (VITAS) has urged the government to prepare a development strategy to 2025 with a vision towards 2040, as the present plan has become obsolete. The association has also asked the government to group textile and garment enterprises in concentrated industrial parks to attract domestic and foreign capital.

The Vietnamese government had last prepared a development strategy to 2010 with vision towards 2030. This plan targeted Vietnamese textile and apparel exports to cross $20 billion by 2020, but the country's exports have already surpassed this target by fetching around $27 billion in 2015.

The grouping of textile and garment industrial parks at one place would facilitate wastewater treatment, which is important for the industry's sustainability and environment protection, VITAS chairman Vu Duc Giang said, according to a news agency report.

The present textile and garment industrial zones in northern provinces of Nam Dinh, Thai Binh and Hung Yen and two southern provinces of Binh Buong and Dong Nai are spread over a few hundred hectares each. Increasing the area for setting up of textile and apparel industrial zones to 500-1,000 hectares would attract more domestic and foreign capital, Giang felt.

Further, it is necessary to upgrade transportation infrastructure connecting these industrial zones with ports and logistics centres, he said.

Since setting up a wastewater treatment system is very costly, the government should offer a preferential lending rate for companies willing to invest in such treatment systems, he suggested.

Growing at 4.72 per cent year-on-year, Vietnam's garment and textile exports earned $12.6 billion in the first half of 2016. (RKS)

Fibre2Fashion News Desk – India

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