Vietnam has ambitious plans for fabric industry

Tag : Fabric Raw
The government is targeting 16-18 percent annual growth in textileand garment production and 20 percent growth in exports over thenext two years under a development blueprint for the industry, itannounced Friday.

The industry is expected to achieve revenues of US$14.8 billion in2010, rising to $31 billion in 2020.

It was $7.8 billion two years ago.

It also targets exports of $12 billion in 2010, and $25 billion in2020, against $5.83 billion in 2006.

To achieve all this, the government is focused on more local rawmaterials, seeking more investment, improving quality, expandingmarkets, and intensifying human resource development.

It is encouraging cotton production to meet the domestic demand.

The output is expected to rise to 20,000 tons in 2010 and 60,000tons in 2020 from just 8,000 tons two years ago.

The government also plans to build textile and garment industrialparks and seek more local and foreign investment in the industry,especially in dyeing, weaving and producing cotton, syntheticfibers and other materials.

It is focusing on improving designs, promoting trademarks both athome and abroad, applying advanced technologies, intensifyingquality control, and overcoming export barriers.

The government is building a quality system in line withinternational standards, helping textile firms with quality controland technical barriers, and setting up a database.

The government announced it would expand traditional markets likethe United States, the European Union and Japan, and find new ones.

To develop human resources, it is setting up more training coursesin fashion design, fabric analysis and production and salesmanagement, and sending experts and students abroad to attendrefresher courses.

It is also simplifying tax and customs procedures, intensifyingmarket surveillance and cracking down on smuggling.