Textile - garment exports to grow further this year

Tuesday, August 30, 2022  15:48

                   A garment factory in Vietnam (Photo: VNA)

Hanoi (VNA) – Vietnam’s textile - garment industry is set to earn 45 billion USD in exports in 2022, compared to 40.4 billion USD last year, an insider has said.

Truong Van Cam, Vice Chairman of the Vietnam Textile and Apparel Association (VITAS), said the industry has been expanding fast over the last five years, at 20 - 26% annually. Vietnam is currently the world’s third largest exporter in this regard.

The country’s textile and garment products are holding a global market share of 5.2%, with the biggest importers being the US, the Republic of Korea, Japan, and Europe.

Cam held that to sustain the growth trend, the State should quickly disburse the financial aid package for enterprises and reform the mindset in attracting investment to textile and garment material production.

Meanwhile, businesses should adopt green manufacturing practices, including reducing and recycling waste, to meet the growing preference for environmentally friendly products, he added./.