Chairman of the Vietnam Textile and Apparel Association (VITAS) Vu Duc Giang has said the sector will focus on new potential markets to achieve an average growth of 6 percent each year during the 2020 – 2025 period.
Hanoi (VNA) – Chairman of the Vietnam Textile and Apparel Association(VITAS) Vu Duc Giang has said the sector will focus on new potential markets toachieve an average growth of 6 percent each year during the 2020 – 2025 period.
They include membersof the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union – Vietnam Free Trade Agreement (EVFTA), as well as the RegionalComprehensive Economic Partnership (RCEP) in the near future.
Giang said the sector’sgrowth is likely to be 5 percent less than that recorded in 2019 if COVID-19 isunder control in the second quarter.
According to him, the pandemic afforded businesses a chance to step up digital transformation, andproduce masks in large quantity to meet domestic and foreign demand, thuscreating jobs and increasing workers’ income.
They have also invested inemission-free stages such as fiber production and waterless dyeing so as tomeet criteria of the global supply chain.
At a conference withthe Prime Minister on May 9 morning, VITAS offered suggestions related totaxation and administrative procedures to tackle difficulties faced by firms.
It proposed theMinistry of Industry and Trade soon submit the Vietnam textile and garmentdevelopment strategy till 2025 with a vision to 2035 to the PM for approval.
The VITAS alsomentioned the planning of major textile industrial zones using concentratedwater treatment technology.
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The COVID-19 pandemic has left Vietnam’s textile and garment sector in deep trouble because of rising order cancellations and delays, but some producers have found a way around and been able to weather the storm.
The total textile and garment export value in the first four months of this year dropped by 6.6 percent year-on-year to 10.64 billion USD, according to the Vietnam Textile and Apparel Association (Vitas).
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Illustrative image (Photo: VNA) 
