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Related Keywords: another $8 billion worth of exports needed, August and September indicates, average export growth rate, exponential growth, export target of $31 billion, five major destination markets, for the year 2017, target is achievable, Vietnam National Textile and Garment Group, Vietnamese to achieve textile and garment, Vinatex

Vietnamese on its way to achieve the textile and garment export target of $31 billion for 2017, according to Le Tien Truong, general director of Vietnam National Textile and Garment Group (Vinatex). As the average export growth rate in August and September indicates the target is achievable, another $8 billion worth of exports is needed before the year end.

Related Keywords: accelerate project investments and efficiency, comprehensive reform, develop production and business, developments in technology, entered markets with strict requirements, key export markets, local garment enterprises, Prime Minister Nguyen Xuan Phuc, traditional export markets, Vietnam National Textile and Garment Group, Vinatex

The Vietnam National Textile and Garment Group (Vinatex) has been urged to undertake comprehensive reform to develop its production and business. Prime Minister Nguyen Xuan Phuc’s message was conveyed on June 20 to Vinatex by a working group led by Government Office Chairman Mai Tien Dung.

Dung, speaking at a working session with the group in Hanoi, said that Vinatex had undergone many reforms and achieved developments in technology, management and jobs for 80,000 workers. However, the group had been experiencing difficulties in the export market since 2016.

Related Keywords: access to seaport networks, competitiveness in global textile market, established supply chain, materials domestically sourced, ranks fourth globally in terms of size, rapid expansion stands chance to become worlds leading production hub, relatively large domestic market, Vietnam National Textile and Garment Group, Vietnamese textile industry

The Vietnamese textile industry currently ranks fourth globally in terms of size, behind textile giants China, India, and Bangladesh. With rapid expansion of textile industry, it stands a chance to become the world’s leading textile producer in the near future, said Le Tien Truong, general director of the Vietnam National Textile and Garment Group.

Related Keywords: Le Tien Truong, textile and garment in Vietnam, top textile exporter in the world, Vietnam National Textile and Garment Group, Vietnam textile export, Vinatex

Vietnam has emerged as the fourth largest textile exporter in the world by earning US$12.18 billion in the first six months of 2015, said the Vietnam National Textile and Garment Group (Vinatex). The earning is 10.3 per cent higher than last year. US, South Korea and the European Union were the biggest buyers of Vietnamese products, posting growth of 11.0 per cent, 8.3 per cent and 8.2 per cent respectively, against the same period last year.

Related Keywords: new textile complex in veitnam, textile project in Hai Phong, Trans-Pacific Partnership, Vietnam National Textile and Garment Group, Vinatex

Vinatex (Vietnam National Textile and Garment Group) has plans to build a new textile complex to manufacture yarn and fabrics in the An Lao district of Hai Phong. This is in line with its policy of building projects in the region.