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Vietnam targets textiles exports worth $30 bn in 2016

Le Quang Hung, President, Garmex Saigon says the number of orders Garmex Saigon have so far compared to last year will ensure enough jobs for the company until the end of the year. He added that company projects 20 per cent growth rate in revenue in comparison with 2015. Garmex Saigon reported turnover of VND1.530 trillion in 2015, while abundant orders have led to turnover that may reach VND1.8 trillion this year.

Confirmed deputy chair of the Vietnam Textile and Apparel Association (Vitas) Pham Xuan Hong that most enterprises have orders for the first and second quarters, while some others have enough orders for the whole year. Hong said, import orders have come in abundance and the enterprises have to restart production after the long Tet holiday and look for workers.

Vietnam exported $27 billion worth of textile and garment products in 2015 and the target of $30 billion export turnover in 2016, or 10 per cent higher, appears to be attainable. The Ministry of Industry and Trade (MOIT) has every reason to be optimistic about production in 2016. According to report the production index of the textile industry grew by 12 per cent in January compared with the same period last year, while the figure was 11.2 per cent in the clothing industry.

 
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