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Textile & garment sector set to covet top position in exports

21
Jan '09
Mr Bui Xuan Khu
The Vietnamese Deputy Minister of Industry and Trade, Mr Bui Xuan Khu said at a recent press conference, that the ministry will hold an online conference in Ha Noi, Ho Chi Minh city and Da Nang to discuss measures to remove difficulties affecting the textile, garment and footwear industry and boost exports.

Participants from the concerned association bodies will prepare ideas, recommendations, specific policies and support measures to enable enterprises to invest in producing new products and auxiliaries, increase productivity, reduce cost and search for new markets.

This conference is vital because textile and garment industry aims to be the leading industry in export value in 2009 with an export target of US $11.5 billion, as was targeted in 2008 by the ministry.

The industry had targeted to be at the top from Vietnam's leading export industries about ten years ago. However, crude oil due to its high price in the last few years surpassed export values of other industries.

However, this year, the price of crude oil has fallen down sharply and secondly a major quantity of the crude oil previously meant for export will now refined at the Dung Quat oil refining factory, due to which export quantity and value of crude is expected to fall sharply.

As a result of which, the textile and garment industry will emerge to hold the first position among all export sectors in 2009. But, again looking at the current global situation, reaching those targets may not be easy say, experts.

Mr. Khu exhorted all textiles and garment enterprises to make use of every available opportunity by investing in modern technologies, train human resources, build brand names and develop retail strengths.

Fibre2fashion News Desk - Vietnam


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