Vietnam targets $38-39 bn from 2021 RMG-textile exports



Vietnam’s garment-textile export turnover is projected at $38-39 billion in 2021, in accordance with Vietnam Nationwide Textile and Garment Group (Vinatex) chairman Le Tien Truong, who lately steered reducing long-term rates of interest. He instructed a digital convention that garment-textile corporations would discover it laborious to entry loans after a yr of low enterprise effectivity.

Firms are hoping for particular insurance policies to be adopted by the federal government to help the business within the sector, he stated.

Underneath the Authorities administration, the sector has lowered non-production prices, particularly these for logistics providers via the nationwide logistics community, and different non-tariff prices.

The ministry of business and commerce has additionally helped companies optimise new-generation free commerce agreements (FTAs). In 2020, Vietnam is the one among the many world’s prime 5 garment-textile exporters to not should stop manufacturing, a Vietnamese newspaper reported.

Though Vietnam’s garment-textile export reached solely $35 billion in 2020 towards $39 billion recorded final yr, the consequence continues to be outstanding given the worldwide demand dropping by over 22 per cent.

Truong highlighted complete options adopted by the sector for the reason that starting of this yr when the availability chain was disrupted, saying it has labored laborious to make sure jobs for greater than 4 million workhands.

Fibre2Fashion Information Desk (DS)

Vietnam’s garment-textile export turnover is projected at $38-39 billion in 2021, in accordance with Vietnam Nationwide Textile and Garment Group chairman Le Tien Truong, who lately steered reducing long-term rates of interest. He instructed a digital convention that garment-textile corporations would discover it laborious to entry loans after a yr of low enterprise effectivity.





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