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Garment exports stitch up target for 2010
Vietnam’s textile and garment industry is confident it can buck a downturn being felt in other sectors and has targeted US$10.5 billion in export value next year, a Wednesday meeting was told.
Le Quoc An, chairman of the Vietnam Textile and Apparel Association (Vitas), said the recovery of the world’s economy would allow exports to increase by $10.5 billion in 2010 from an estimated $9.1 billion this year.
Despite fears Vietnam’s garment and textile makers would be hit hard by the global economic downturn, the sector reported only a 1 percent drop in shipped goods over the first seven months of 2009.
Exports of garments and textiles generated $5 billion between January and July, only 1 percent less than during the same period last year, according to the Ministry of Trade and Industry.
In expectation of a poor year, the sector lowered its 2009 export target to $9.1 billion from the earlier target of $10 billion.
At present, the sector provides jobs for around 2 million workers, mostly in Ho Chi Minh City and Hanoi. It has targeted creating an additional 1.5 million jobs by 2010.
vietnews
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