Over the next 12 years Vietnam’s textile and apparel industry is expected to achieve high growth rates. Mr Trand Du Lich, member of the National Advisory Council on Financial and Monetary Policy, informed the 4th Vietnam Textile Summit that textile goods amounted $31 billion were exported last year which represent a 10.23% rise on year on year basis and the growth this year is an estimated turnover of $33 billion.
The textile sector promotes petrochemicals, cotton fiber, services and trading and fashion industries. But, the Vietnamese media reports that the Vietnam vocational training policies in the industry have not been effective and need support. Hence, the government should encourage enterprises to mobilize capital on stock market. He further suggested a common language to factor risk in supply chain.
The event was jointly organized by Vietnam Cotton and Spinning Association (VCOSA) and EVC International.
