Vietnam: textile industry seeks 30% export growth
The Vietnam Textile & Apparel Association (VITAS) believes the sector’s exports could grow 30% in 2011.
According to the association’s vice chairman, Le Van Dao, the country’s textile and apparel exports for the first ten months of 2010 have already equalled 2009 exports in value. As a result, VITAS believes turnover will exceed the 2010 target of $10.5 billion by 20%.
Mr Dao believes the upward trend reflects a recovery within its main import markets, particularly in the US. However, he adds that this growth pattern must be maintained if the sector is to reach its future export targets.
“To reach the export target of $18 billion by 2015, the sector must record a growth rate of 20-30% next year,” he says. “This is a major target and will be uphill task for the sector as it will compete with big rivals like China and other free markets.”
