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Vietnam's garment-textile exports earn $8 bn in Q1
Apr '18
Vietnam’s garment-textile export turnover reached nearly $8 billion in 2018 first quarter, a year-on-year rise of 13.3 per cent, and Ho Chi Minh City Association of Garment and Textile president Pham Xuan Hong sees bright prospects this year. The country has an export target of $35 billion this year and figures are anticipated to be better than last year’s.

The number of orders is likely to witness a substantial increase this year, especially for large-scale businesses, said chairman of Hung Yen Garment Nguyen Xuan Duong.

Domestic enterprises have invested in new technology to increase productivity and competitiveness, a report by a Vietnamese news agency quoted chairman of Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang as saying.

Vietnam at present annually exports more than $3 billion worth of yarn, $1 billion worth of fabric and $400 million worth of garment accessories.

Some big enterprises such as Phong Phu Joint Stock Company and Garment-10 Joint Stock Company are planning to export using online platforms, Giang added. (DS)

Fibre2Fashion News Desk – India

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