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VietNamNews

Garments, textiles to lead exports if growth maintained

Update: April, 25/2013 - 10:15

HA NOI (VNS)— The Ministry of Industry and Trade forecast that textile and garments would become the nation's top exports this year if the sector maintains the 19 per cent growth rate achieved in the first quarter.

Dang Phuong Dung, deputy chairperson of the Viet Nam Textile and Garment Association, said total export turnover of the industry reached US$ 4.2 billion and there are many good points of a recovery for the industry.

Le Tien Truong, deputy chairman of the Viet Nam Textile and Garment Group, said textile and garment exports often increased after the first quarter, predicting that they will reach record export turnover this month.

Than Duc Viet, CEO of the May 10 clothes company, said a business trip to Greece this year resulted in several contracts signed with Viscotin, 2Gether and Siamidis to export their products to Greece and on to markets in the Balkans, south-eastern Europe and the Mediterranean.

Illustrative image.—VNA/VNS Photo

Viet said his company's exports during the second and third quarters will increase by about 10 per cent over the same period last year.

While the company has sent its representatives abroad to seek customers, Gia Dinh Garment and Textile Company (Giditexco) has won more contracts with their formers Japanese customer thanks to the brand's growing reputation.

According to a representative from HCM City's Garment, Textile, Embroidery and Knitting company, prospects for export enterprises this year are bright as the global economy seems to be recovering.

Some enterprises in the city have not only enough orders for the second and third quarters, but all the way to the end of the year.

While the future looks good for exports, Vinatex Deputy chairman Le Tien Truong raised concerns over rising input costs for manufacturers such as increasing petrol and electricity prices.

Truong said rising prices required textile enterprises to improve labour productivity while increasing incomes for workers.

Truong says enterprises should also pay attention to the huge local market of 90 million people in Viet Nam as more competitors from abroad are considering this market for their garment products. —VNS



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