We use cookies to improve your browsing experience. If you continue, we'll assume that you are happy to accept cookies from our website. You can change your browser's cookie settings at any time. To find out more about how we use cookies and how to manage your browser settings read our cookies policy.
Press Releases
2013-01-02  download as PDF Download this press release in Adbobe Acrobat format | download as DOC Download this press release in Microsoft Word format
Vietnam aims to become one of the top five textile and clothing exporters by 2020

Vietnam has set out an objective to become one of the top five textile and clothing manufacturing and exporting nations by 2020 while simultaneously fostering social improvements and environmental wellbeing, according to a report in Issue No 159 of Textile Outlook International from the global business information company Textiles Intelligence.

In value terms, the industry has set an export target in the range US$20 billion-US$22 billion for 2020. It aims to achieve this leap forward by concentration on a strategy of specialisation and modernisation and an increase in added value.

The process of value addition has already started. Between 2005 and 2011, the added value rate of Vietnam's textile and clothing exports increased markedly, from 30.2% to 47.8%. Over this time period, exports more than trebled from US$4.8 billion to US$15.8 billion.

The momentum continued into 2012 with textile and clothing exports during the first nine months of the year up by 7.4% compared with the corresponding period of the previous year, to US$11.14 billion.

That said, the export target for 2015 has had to be moderated to US$14 billion-US$16 billion, which is similar to the current level, in recognition of tougher economic conditions in its two main markets, the USA and the EU.

Looking further ahead, there are ambitious plans to achieve a strong advance in exports and retain the textile and clothing industry's status as one of the country's most important sectors.

To aid in these plans, the government has established a series of incentives to attract and encourage the kind of foreign direct investment (FDI) which is most likely to drive the country's future development.

In addition, Vietnam has secured free trade agreements (FTAs) with a number of countries and regions. In particular, through its membership of the Association of Southeast Asian Nations (Asean), it benefits from the Asean China Free Trade Area (ACFTA), which is the world's largest FTA in terms of the total population of its signatories.

In addition, again through its membership of Asean, it benefits from FTAs with Australia and New Zealand, India, Japan and South Korea. Also, it has bilateral FTAs with Israel and Japan. Furthermore, Vietnam has entered into negotiations with the EU with a view to signing a comprehensive FTA. Most importantly, it has entered into negotiations to be part of the Trans Pacific Partnership (TPP), which aims to establish a free trade area for the Asia Pacific region.

"Prospects for the Textile and Clothing Industry in Vietnam" was published by the global business information company Textiles Intelligence in issue No 159 of Textile Outlook International.

Issue No 159 of Textile Outlook International includes the following reports: "Editorial: Can the Shift of Textile and Clothing Production to Asia be Reversed?"; "World Textile and Apparel Trade and Production Trends: Egypt, Morocco, Tunisia and Turkey"; "Survey of the European Yarn Fairs for Autumn/Winter 2013/14"; "Global Trends in Fibre Prices, Production and Consumption"; and "World Markets for Textile Machinery: Part 2Fabric Manufacture".

Textile Outlook International is published six times a year by Textiles Intelligence. Each issue provides an independent and worldwide perspective on the global fibre, textile and apparel industries.

A year's printed subscription to Textile Outlook International costs 900 (UK), Euro1,670 (Europe, Middle East or Africa) or US$2,165 (Americas or Asia Pacific). An electronic supplement is also available; please contact us for details. Single issues are available on request.

For further information, please contact Belinda Carp at Textiles Intelligence, Alderley House, Wilmslow, SK9 1AT, UK.

Tel: +44 (0)1625 536136; Fax: +44 (0)1625 536137; Email: info@textilesintelligence.com

For press copies and editorial enquiries, please contact Robin Anson at Textiles Intelligence. Tel: +44 (0)1625 536136. Fax: +44 (0)1625 536137. Email: editorial@textilesintelligence.com"Prospects for the Textile and Clothing Industry in Vietnam" was published by the global business information company Textiles Intelligence in issue No 159 of Textile Outlook International.

Issue No 159 of Textile Outlook International includes the following reports: "Editorial: Can the Shift of Textile and Clothing Production to Asia be Reversed?"; "World Textile and Apparel Trade and Production Trends: Egypt, Morocco, Tunisia and Turkey"; "Survey of the European Yarn Fairs for Autumn/Winter 2013/14"; "Global Trends in Fibre Prices, Production and Consumption"; and "World Markets for Textile Machinery: Part 2Fabric Manufacture".

Textile Outlook International is published six times a year by Textiles Intelligence. Each issue provides an independent and worldwide perspective on the global fibre, textile and apparel industries.

A year's printed subscription to Textile Outlook International costs 900 (UK), Euro1,670 (Europe, Middle East or Africa) or US$2,165 (Americas or Asia Pacific). An electronic supplement is also available; please contact us for details. Single issues are available on request.

For further information, please contact Belinda Carp at Textiles Intelligence, Alderley House, Wilmslow, SK9 1AT, UK.

Tel: +44 (0)1625 536136; Fax: +44 (0)1625 536137; Email: info@textilesintelligence.com

For press copies and editorial enquiries, please contact Robin Anson at Textiles Intelligence. Tel: +44 (0)1625 536136. Fax: +44 (0)1625 536137. Email: editorial@textilesintelligence.com"Prospects for the Textile and Clothing Industry in Vietnam" was published by the global business information company Textiles Intelligence in issue No 159 of Textile Outlook International.

Issue No 159 of Textile Outlook International includes the following reports: "Editorial: Can the Shift of Textile and Clothing Production to Asia be Reversed?"; "World Textile and Apparel Trade and Production Trends: Egypt, Morocco, Tunisia and Turkey"; "Survey of the European Yarn Fairs for Autumn/Winter 2013/14"; "Global Trends in Fibre Prices, Production and Consumption"; and "World Markets for Textile Machinery: Part 2Fabric Manufacture".

Textile Outlook International is published six times a year by Textiles Intelligence. Each issue provides an independent and worldwide perspective on the global fibre, textile and apparel industries.

A year's printed subscription to Textile Outlook International costs 900 (UK), Euro1,670 (Europe, Middle East or Africa) or US$2,165 (Americas or Asia Pacific). An electronic supplement is also available; please contact us for details. Single issues are available on request.

For further information, please contact Belinda Carp at Textiles Intelligence, Alderley House, Wilmslow, SK9 1AT, UK.

Tel: +44 (0)1625 536136; Fax: +44 (0)1625 536137; Email: info@textilesintelligence.com

For press copies and editorial enquiries, please contact Robin Anson at Textiles Intelligence. Tel: +44 (0)1625 536136. Fax: +44 (0)1625 536137. Email: editorial@textilesintelligence.com