Textile & clothing exports target of $5 billion set
10 Feb '06
1 min read
After notching textile exports worth US $4.8 billion in 2005, Vietnam Textile and Apparel Association (Vitas) has worked out several measures to reach a target of $5 billion for 2006.
This could be achieved due quotas allocation right at the beginning of the year, besides allocations against guarantee funds and automatic grant of visas, and several Vietnamese clothing companies have already bagged export orders, to start with, opined Vietnam's Ministry of Trade sources.
Last year's performance was good considering stiff competition from apparel and textile maker China and quotas hassles with the US and EU apart from late allocation that was staggered and ad hoc.
This year's textile and clothing export account for Vietnam opened in January with $152 million worth goods dispatched to the US had been worth, which is up 65 percent over the same period last year despite the country maintaining quota curbs.
Sources said that Vitas will invest in manufacture of textile accessories, improve existing units, and establish special industrial zones for textile and garment manufacture.
Vietnamese companies are in a consolidation mode stepping up investment in manufacture and brand building, and exploring both domestic and overseas markets.
marketing@alchempro.com
