Vietnam eyes $12b garment export target by 2010
Friday, 12 December 2008
HANOI, Dec 11 (Xinhua): Vietnam's garment and textile industry has set target to gain an export turnover of 12 billion US dollars by 2010 under a new strategy approved by the ministry of industry and trade, the local newspaper Vietnam News reported yesterday.
The strategy aims for an export turnover of 18 billion US dollars by 2015 and the estimated figure for 2020 is 25 billion US dollars. To meet such targets, all capital sources from domestic and international channels will be invested in, said Bui Xuan Khu, deputy minister of industry and trade.
The strategy calls for more investment in raw materials and accessories to minimise the industry's dependence on foreign imports. The industry's output of cotton and fibre is set to churn out nearly 490,000, 550,000 and 1.1 million tones by 2010, 2015 and 2020 respectively.
The industry will supplement human resources development through its work with international organisations, which help develop workers' technical skills in Vietnam and abroad, said the industry's strategy.
The overhaul of administrative procedures to simplify tax and customs requirements for the country's garment and textile exporters will also form part of the strategy.
The strategy aims for an export turnover of 18 billion US dollars by 2015 and the estimated figure for 2020 is 25 billion US dollars. To meet such targets, all capital sources from domestic and international channels will be invested in, said Bui Xuan Khu, deputy minister of industry and trade.
The strategy calls for more investment in raw materials and accessories to minimise the industry's dependence on foreign imports. The industry's output of cotton and fibre is set to churn out nearly 490,000, 550,000 and 1.1 million tones by 2010, 2015 and 2020 respectively.
The industry will supplement human resources development through its work with international organisations, which help develop workers' technical skills in Vietnam and abroad, said the industry's strategy.
The overhaul of administrative procedures to simplify tax and customs requirements for the country's garment and textile exporters will also form part of the strategy.