Can we begin with a brief about the vision of Vietnam Textile and Garment Group (VINATEX) as a body active in promotion of textile and garment industry in Vietnam?
Sharing the vision of developing the Vietnamese textile garment industry, Vinatex- one of the largest and the most competitive textile garment corporations in Asia concentrates on the specialization and modernization to make the leap for the added value of textile garment products.
In its set goals, Vinatex will accomplish this by carrying out two tasks. The first task is to implement three decisive programs for the sustainable, stable and long-term development of the Vietnamese textile garment industry; these are cotton planting; high-quality spinning fabrics, and human resources training. The second task is to complete capitalization of all state-owned textile garment enterprises in 2008 and capitalization of Vinatex in 2009.
Vinatex – the largest entrepreneur of the Vietnamese National Textile Garment Industry will actively join the general strategy that was set up by the whole industry. Vinatex has vision to become a corporation owned by many companies. This group foresees itself to be ranked among Top 10 Global Textile Garment Groups by 2015.
Please let us know how is Vietnamese textile and clothing industry faring presently?
Textile and garment play a very important role in Vietnam economy. With around 2500 enterprises, the textile and garment industry has made a remarkable development in the last few years. Since 2000 until now, the industry has reached an annual growth rate of 20%, generated 2 millions jobs, contributing 17% to the export turnover of the country, ranking second just after crude oil.
Despite of the fact that the year 2008 came with challenges including global financial crisis, fierce competition with textile and garment powerful countries, domestic high inflation, labor fluctuation, the first 10 months of the year 2008 witness 7.6 billion USD in textile and garment export, a growth of over 20% year-on-year. However, due to decrease of purchasing power caused by downturn in global economy, the industry’s export turnover of 2008 may not reach 9.5 billion USD as planned.
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