Vietnam’s export earnings from the textile and garment industry are expected to increase to $45 billion, compared to $40.4 billion, as per an Vietnam Plus report.

Truong Van Cam, Vice Chairman, Vietnam Textile and Apparel Association (VITAS), says, the industry has been growing at the rate of 26 per cent annually since the last five years. Vietnam is currently the world’s third largest exporter in this regard.

Textile and garment products exports from the country hold a global market share of 5.2 per cent, with the biggest importers being the US, the Republic of Korea, Japan, and Europe.

Cam held that to sustain the growth trend, the State should quickly disburse the financial aid package for enterprises and reform the mindset in attracting investment to textile and garment material production.

Meanwhile, businesses should adopt green manufacturing practices, including reducing and recycling waste, to meet the growing preference for environmentally friendly products, he added.