According to Le Tien Troung, Chairman, Vinatex, Vietnam’s garment-textile export turnover is projected at $38-39 billion in 2021

According to Truong, localities have supported the sustainable and clean production of the garment-textile industry which, he said, must follow global rules set for the supply chain.

Under the Government management, the sector has reduced non-production costs, especially those for logistics services through the national logistics network, and other non-tariff costs.

The Ministry of Industry and Trade has also helped businesses optimise new-generation free trade agreements (FTAs) through the issuance of guidance and the launch of a portal on those deals.

Vietnam has signed a total of 17 new-generation FTAs, he said, stressing that a number of countries like Japan have reached up to four pacts with Vietnam.

In 2020, Vietnam is the only among the world’s top five garment-textile exporters not to have to cease production.

Although Vietnam’s garment-textile export reached only 35 billion USD against the 39 billion USD recorded last year, the result is still remarkable given the global demand dropping over 22 percent.