Despite this being a challenge, industry experts believe the goal is achievable given the current growth trajectory.
Export turnover of the sector in the first seven months this year reached over $26.33 billion—up by 9 per cent year on year (YoY). Several companies have already secured orders till December.
The Vietnam Textile and Apparel Association (VITAS) said the sector has expanded its export reach to 132 countries and territories this year, up from 104 in 2024. Vietnamese enterprises are also pursuing overseas investment projects in Mexico and Myanmar, with further expansion planned in India and Egypt, a domestic news outlet reported.
VITAS chairman Vu Duc Giang said success depends on enterprises making proper use of the 17 new-generation free trade agreements, while adapting to shifting trade dynamics and differing economic policies across major markets.
The industry also needs to adapt to cope with evolving global conditions and regulatory frameworks.
Chairman of the Vietnam National Textile and Garment Group (Vinatex) Le Tien Truong said enterprises must adopt flexible financial management strategies to stay competitive, absorb rising input costs and adapt pricing mechanisms to retain orders in an increasingly challenging global market.
ALCHEMPro News Desk (DS)
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