Vietnam aiming for $20 billion in garment exports
10/03/2011
Pham Gia Hung of the Vietnam Textile and Apparel Association (Vitas) said at a recent conference in Ho Chi Minh City that a textile development strategy that the government has in place could lead to domestic consumption having a value of around $6 billion by then.
In 2010, garment exports had a value of $11.2 billion last year and domestic sales, $4.2 billion.
Another part of the plan is that locally produced yarns, fabrics and components will feature more prominently in Vietnamese garments, reaching a share of 70% by 2020, Mr Hung said. In 2010, the Vietnamese garment industry imported material worth $8.9 billion. There will be more investment in growing cotton and in facilities to manufacture fabric and accessories, he added.
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