Vietnam’s textile and garment export value this year is estimated at US$39 billion. — Photo kinhtedothi.vn

VITAS General Secretary Truong Van Cam said the textile and garment industry had overcome many difficulties due to the COVID-19 pandemic, especially in the third quarter, to maintain export growth over the whole year, at a press conference in Hanoi on Tuesday.

"This is a great effort of the textile and garment industry in the context of the pandemic heavily affecting the economy both at home and abroad," he said.

"Amid difficulties caused by the pandemic, the association has connected domestic enterprises with each other and with foreign-invested enterprises to form supply chains and expand export markets.

"It has also connected local businesses with international organisations and textile associations of other countries to support them with experts and funding for training courses on technique, design, sales and branding.

“The association has acted as a bridge between textile and garment enterprises and the Government as well as State management agencies to solve problems relating to policies, administrative procedures, specialised inspection, tax, customs, wage labour and insurance.” 

In addition, he said VITAS had participated in developing policies to support and facilitate businesses in doing business. It had also been a member of a Government delegation to join negotiation rounds in free trade agreements.

For next year, Cam said that the pandemic was expected to have a complicated and unpredictable development throughout the world and Vietnam.

However, major markets such as the US and the European Union have reopened while Vietnam has brought the pandemic under control and is also recovering economic development. Many textile and garment enterprises have had orders to produce until the second quarter of 2022.

Therefore, the association has three development scenarios for 2022, he said. The most positive will see a textile and garment export value of US$42.5-43.5 billion for the whole year, if the pandemic is controlled well in the first quarter of 2022.

In the second, the industry estimates an export value at US$40-41 billion, if the COVID-19 is controlled by the middle of the year.

The worst scenario is that it makes US$38-39 billion in export value, if the disease is complicated until the end of 2022.

The association also said that a conference on reviewing production and business in 2021 will be held on December 17, 2021 in online and offline forms in Hanoi, Da Nang and HCM City.

The event aims to evaluate the activities of the industry and the association in 2021 and point out the necessary work and solutions that member businesses and associations need to do in textile and garment development strategy in the period 2020-2025.

A seminar on the impact of the fourth outbreak of the COVID-19 on textile enterprises and workers will also be held.

The seminar will cover climate change in the fashion industry, sustainable trade, the green transformation of the textile dyeing industry, world textile markets consumption trends and change in production and fashion in the context of the pandemic.

Source: Vietnam News

Garment and textile exports likely to reach US$38 billion this year

With export turnover surging by 11% to reach approximately US$32 billion during the past 10 months of the year, the local garment and textile industry is anticipated to rake in roughly US$38 billion this year.