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Investment opportunities in Textiles and garments PDF Print
Saturday, 10 December 2011 14:56

VIETRADE - Garments and textiles is Vietnam’s largest industry with over 2,000 enterprises scattered throughout the country. These frms are often located in industrial parks or craft villages (mostly SMEs).

 

The two provinces of Hanoi and Thai Binh host the most textile enterprises. In Hanoi, there is Van Phuc village (Ha Dong district) and Duong Noi village (Hoai Duc district). In Thai Binh province there is Nam Cao village (Vu Thu district) and Phuong La village (Hung Ha district).

 

The industry’s is #2 for Vietnam’s exports, following only the oil and gas industry, accounting for 15% of Vietnam’s exports. Export of garments and textiles is now reaping USD 10 billion annually and expected to gain USD 11 billion in 2010. That puts Vietnam into the world’s top 10.

 

Plan for development targets and objectives: Decision 42/2008/QD-BCT of November 19, 2008 (on developing the textile and garment industry to 2015, including an eye to 2020) sets forth: (i) this industry is to become a key industry, and (ii) the frm and effcient development of its enterprises is to be encouraged.

 

The export revenue target was USD 18 billion for 2015, and USD 20 billion in 2020. Garments and textiles labor targets to increase to 3 million by 2020, etc.The industry will focus on producing cloth and materials for tailoring exported apparels, invest to produce improved cotton, fber and thread production facilities, thereby resulting in decreased imports.



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