Hailing their achievements, Prime Minister of Vietnam said that the textile-garment and footwear industries play an important role, employing a huge number of workers, up to 4.3 million. Their exports account for a large proportion of the total national export turnover. In 2019, these two industries exported products worth USD 62 billion, equivalent to 24% of the country’s total.

 

He urged the sectors to make reforms to improve corporate governance efficiency in the new situation and promote digital transformation in the management and operation of textile enterprises, thus helping them make the effective use of free trade agreements, including the freshly signed Regional Comprehensive Economic Partnership (RCEP) Agreement.

 

The Government leader also noted the need for “green growth” in the development of the textile and garment industry, application of a circular economy, and continued automation to raise the labour value.

 

According to the Vietnam National Textile and Garment Group, Vietnam’s textile and garment industry is forecast to earn about USD 33.5-34 billion from exports this year.

Source: en.nhandan.org.vn