“VNA” reported on December 12 that VUDUCGIANG, Chairman of the Vietnam Textile Association, said at the 6th Vietnam Textile Association Conference and the 2020 Summary Conference that in 2019 Vietnam’s textile export volume is US$38.9 billion. It is expected that the export volume in 2020 will be approximately US$35.2 billion. By 2025, the export target is US$55 billion, including 3.5 billion square meters of fabric exports and 8,500 types of clothing exports. Strive to achieve a trade surplus of US$33 billion by 2025, with an average annual growth rate of approximately 11.6% from 2021 to 2025.
To achieve this goal, the Chairman of the Vietnam Textile Association said that in the 2020-2025 stage, the association will be committed to comprehensively, researching and raising deficiencies to the government and ministries. policies and mechanisms; play a role among member companies to form a textile supply chain that meets the FTA’s origin requirements; connect domestic schools and research institutes with companies to train high-quality human resources. In addition, it is also recommended that the Ministry of Industry and Trade of Vietnam submit the “Vietnam Textile and Garment Industry Development Strategy to 2030 Vision 2035” to the government for approval as soon as possible, which includes the national plan and the construction of infrastructure for large-scale textile and garment industrial zones, and the construction of a centralized wastewater treatment system to attract Dyeing projects; priority is given to advanced technology projects. At the same time, the government and ministries should continue to reform administrative procedures, eliminate difficulties, ensure a smooth business investment environment, and reduce business costs. The association suggested that the Ministry of Finance of Vietnam should study and recommend to the government the elimination of value-added tax for companies that use domestically produced fabrics for processing and export, so as to create conditions for the formation of connection chains.
