A few days ago, the chairman of the Vietnam Textile Association stated that Vietnam’s textile exports in 2019 will be USD 38.9 billion, and it is estimated that the export value in 2020 will be about USD 35.2 billion. The export target by 2025 is USD 55 billion, of which 3.5 billion square meters of cloth exports. Strive to achieve a trade surplus of USD 33 billion by 2025, with an average annual growth rate of approximately 11.6% for the period 2021-2025.

In order to achieve this goal, in the period from 2020 to 2025, the Vietnam Textile Association will devote itself to researching and proposing policies and mechanisms to the government and various ministries; it will play a role among member companies to meet the requirements of the origin of the free trade agreement; linking domestic schools and research institutes with enterprises to train high-quality human resources.

 

In addition, the association also recommended that the Ministry of Industry and Trade of Vietnam submit the “Vietnam Textile and Apparel Industry Development Strategy by 2030 to 2035” for government approval as soon as possible, which includes the national plan and the construction of infrastructure for large-scale textile and apparel industrial zones, and the construction of centralized wastewater treatment system to attract dyeing and printing projects; priority is given to projects with advanced technology. At the same time, the government and various ministries should continue to reform administrative procedures, ensure a smooth business investment environment, and reduce business costs. It is recommended that the government abolish value-added tax for enterprises using domestic fabrics for export processing, creating conditions for the formation of an industrial chain.