Despite a number of difficulties in the export market, the target of 40 billion USD set from the beginning of the year has gradually become a reality, according the Vietnam National Textile and Garment Group (Vinatex).
The world’s economic panorama with many gray colours have significantly affected Vietnam’s export activities in the past months. However, the sector’s target set from the outset of the year has gradually become a reality.
– Looking back to the two-third path of the year, how do you evaluate Vietnam’s garment-textile export activities?
Mr. Cao Huu Hieu: According to statistics, as of September, the export turnover of the whole sector was estimated at 29.3 billion USD.export market over the past time, the figure of 400 billion USD could be achievable by the year’s end.– What is the biggest challenge that the garment-textile industry has encountered in the past time?Mr. Cao Huu Hieu: First of all, the difficulties came to the fiber industry. Due to the impact of trade tensions, yarn prices fell strongly in the first months compared to the same period of last year.
Mr. Cao Huu Hieu: Despites numerous difficulties, the group has basically completed financial criteria set at the beginning of the year and also recorded slight growth compared to the same period of 2018.– Many opinions said the Fourth Industrial Revolution will exert a profound impact on the garment-textile sector, especially labour issue. What do you think about this?Mr. Cao Huu Hieu: The application of technology has been carried out strongly in recent years, especially in the field of garment-textile. Currently, many Vinatex businesses have invested in machines to replace labour-intensive positions and 3D design as well as stages requiring high accuracy. – As there are only two months left, what has the garment-textile sector employed measures to realise the export target of 40 billion USD?Mr. Cao Huu Hieu: Businesses in the industry are taking all possible measures to boost exports, especially the yarn market, which is recovering from serious impact of trade tensions.– How do you evaluate the domestic market? Would there be any breakthroughs compared to 2018?Mr. Cao Huu Hieu: With the potential of the domestic textile industry, which is estimated at 9 billion USD, I think this is a big game. In addition to the prestigious world brands that have been invested in the past, by 2020, Japan’s Uniqlo brand will also be present in Vietnam.
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