Textile and readymade garment (RMG) industry is striving to achieve an export turnover of more than $40 billion in 2019, a year-on-year increase of 14-15 per cent. The export turnover in the sector till now this year is nearly $9.43 billion, a rise of 9.8 per cent from the same period last year, according to data from the ministry of industry and trade (MoIT). The sector has posted growth in production of costumes (up 8.8 per cent), fabric made from natural fibres (3.9 per cent), synthetic fibres (19.5 per cent) and casual clothes (8.7 per cent), according to a report in a Vietnamese newspaper. According to Lê Ti?n Tru?ng, general director of the Vietnam National Textile and Garment Group (Vinatex), orders to Vietnamese enterprises have increased by 8-10 per cent over the same period in 2018. However, the sector also faces of a number of challenges, including increased trade stress that affecting service prices, and the urge among strong exporting countries to curb rival Vietnam, the newspaper report says.
Source – Fibre2Fashion.
