Vietnam’s textile-garment industry is anticipated to make $45 billion in exports in 2022 after earning around $40.4 billion in 2021. The country’s textile and garment products account for a global market share of 5.2 per cent, making Vietnam the world’s third largest textile exporter; its biggest importers are the US, South Korea, Japan, and Europe.
The textile industry has been expanding fast over the last five years, at 20-26 per cent annually. To sustain the growth trend, the state should quickly disburse the financial aid package for enterprises and reform the mindset in attracting investment to textile and garment material production, Vietnamese media reports quoted Truong Van Cam, vice chairman of the Vietnam Textile and Apparel Association (VITAS), as saying.
Cam also advised businesses to take up eco-friendly practices such as reducing and recycling waste and move on to green production for sustainable value.
Vietnam's textile-garment industry is anticipated to make $45 billion in exports in 2022 after earning around $40.4 billion in 2021. The country's textile and garment products account for a global market share of 5.2 per cent, making Vietnam the world's third largest textile exporter; its biggest importers are the US, South Korea, Japan, and Europe.
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