Textile, garment sector sets $9.5bil export target

Tag : garment importers
Speaking at a press meeting on Monday, the chairman of the Viet NamTextiles and Apparel Association, Le Quoc An, said in the firsthalf of the year, the sector had an export turnover of $4.2billion, a year-on-year increase of 20 per cent.
An said the remaining $5.3 billion could be reached in the secondhalf of the year as Vietnamese companies had won many contractsfrom importers.
Labour shortage
However, textile and garment enterprises have faced difficulties,including a labour shortage and access to bank loans, both of whichare being blamed for a drop in profits.
An said in the first half of the year the Viet Nam Textile andGarment Group made a profit of VND119 billion ($7 million), onlyhalf of its target for the first six months of the year.
Meanwhile, price hikes and inflation had affected workers' livingstandards, leading to strikes and resignations. The sector is oneof the nation's biggest foreign currency earners, making up 15 percent of Vietnam's total export turnover.
Vietnam at present has more than 2,500 textile and garmentsbusinesses in operation. They employ about two million workers andcreate 100,000 new jobs annually.
To reach this year's targets, textile and garment companies havesought to expand beyond their traditional markets in Europe and theUS.
An said Thai Tuan and Thai Thinh had entered the Middle East, andthat Phuong Dong Co had entered the Czech Republic and SouthAfrica, while other companies are seeking to enter other countriesin Africa. During the Monday meeting, An announced the selection ofa group of outstanding textile and garment producers for the year.
This is being organised by the association in co-operation with Thoi Bao Kinh Te Sai Gon (Sai Gon Economic Times) newspaper. It is the fifth such annualselection organised to honour the country's best performers in theindustry.
The top 10
Ten excellent businesses will be chosen. Participants will registerthis month for the award ceremony, which is scheduled for September19.
The top 10 producers will be evaluated through their businessperformance as well as predicted future competitiveness.
Other criteria used in selecting the companies include outstandingbusiness results, good brand names, a stable labour force andcompetitive products for the domestic market.
(Source: Viet Nam News)