Vietnam'S Textile And Garment Industry Still Needs To Expand Its Production Capacity And Raise Its Self-Control Rate.

2011/4/29 12:03:00 65

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Vietnam'S Textile And Garment Industry Promotes Homemade Cotton Prices

According to the Vietnam Textile Association (VietnamTextileandApparelAssociation-Vitas), this year

Textile and garment exports

The export price of textile garments is expected to reach US $13 billion in this (2011) year as prices rise by 15~20% over the same period (2010).

According to statistics, the export volume of the textile and garment industry in the first quarter of this year was $2 billion 800 million, up 28% from the same period last year.

To achieve the goal of US $13 billion,

Vietnamese textile garments

The industry still needs to expand its production capacity, increase its self-restraint rate and enhance its export momentum. Because most of its textile raw materials still rely on imports, it is greatly affected by import prices, such as imports from the United States.

Cotton price

Up to now, 74.1% has been increased. In order to control production costs, Vietnam textile association suggested that the government should encourage the establishment of industrial zones for producing cotton and textile raw materials in Vietnam.

According to the 2010~2015 development plan of Vietnam textile industry, Vietnam's textile industry has to raise its self-control rate by 45% this year, and its target rate is 70% in 2012.

It is understood that the Vietnamese textile and garment industry has invested more than 1.1 trillion shield (about US $52 million) in technology development and production capacity.