Vietnam's garment-textile exports to reach $45-47 bn in 2023: VITAS

12 Feb '23

1 min read

Pic: Shutterstock/ Dong Nhat Huy

Vietnam’s garment and textile enterprises are busy recruiting more workers, especially skilled ones, to fulfil orders for high-quality products, according to the Vietnam Textile and Apparel Association (VITAS), which forecasts that the country’s garment and textile exports will reach $45-47 billion this year despite difficulties in major global markets.

Many businesses expect the market will recover in the second or third quarter this year with orders rising again, VITAS chairman Vu Duc Giang said.

Several enterprises have promptly resumed production following the long Lunar New Year (Tet) Festival last month.

Giang said global brands are preferring Vietnam due to its programmes on sustainable development, green initiatives, digital management and circular economy.

Twelve thousand workers have returned to work at the Garment 10 Corporation, which aims to earn a revenue of 4.5 trillion VND ($190.88 million) this year. It is now recruiting 800 additional workers.

Domestic garment and textile companies are also working to reduce imports and raise use of domestic raw material, according to a news agency report.

Data from the VITAS showed that the localisation of garment and textile has reached about 49 per cent, and is expected to rise to 51-55 per cent in the 2023-2025 period.

Fibre2Fashion News Desk (DS)

More Textiles News - Vietnam...