Vietnam's Textile And Apparel Exports Rank The World's Top Five, With An Average Growth Rate Of 16%.

Vietnam? clothing At a conference held in Hanoi, industry experts put forward: Vietnam Spin The garment industry should change its development strategy in the next 10 to 20 years.

Ho Thi Kim Thoa, Vice Minister of Vietnam's Ministry of industry and trade, said at the meeting that the textile and garment industry accounted for 8% of Vietnam's GDP. Vietnam's textile and apparel exports rank the world's top five and 2008-2012 years, with an average annual growth rate of 16%.

Thoa said that the development of the garment industry promoted the development of Vietnam's social economy. However, most of the workers come from the countryside, and most of the garment factories are located in the city, and the cost of living is relatively high. This requires the industry to change its development strategy and move the garment factories from the urban areas to the rural areas.

A representative of a textile and garment agency said that the clothing industry in Vietnam relies heavily on imports of raw materials, machinery and equipment and chemical products. At the same time, Vietnam's clothing industry is also faced with problems such as insufficient supply chain, shortage of skilled workers, low added value of products, and lack of market strategy.

Vietnam plans to achieve 310-320 billion dollars in clothing exports in 2020 and 600-650 billion by 2030. Last year, the country's clothing exports amounted to only $17 billion 200 million.

The current strategy is to develop Hanoi and Hu Zhiming as a supply center for design and raw materials instead of building factories in these cities. According to the new strategic plan, Vietnam will invest $3 billion 900 million in the apparel industry in 2011-2015, and invest another $6 billion 400 million in 2016-2020 years.