Vietnam Intends To Develop And Upgrade Cotton Fabric Production Capacity
The Ministry of industry and Commerce in Vietnam said
Vietnam?
The monthly export volume of the textile and garment industry is as high as 1 billion US dollars, but because of the economic turmoil and tight consumption in the US and EU, the industry is facing a crisis of short orders.
Vice president of Vietnam Textile Association believes that the fourth quarter of this (2011) year.
Vietnam?
Orders for textile and garment industry from the US and the European Union will be reduced by 10-15%, and Vietnam's small and medium-sized garment and textile enterprises will be affected.
According to statistics, Vietnamese textile clothing (2011) exports in the first 9 months of the year reached a new high of 4 years, reaching 10 billion 500 million US dollars, and the estimated export volume of this year will reach 130-135 billion US dollars.
The amount of capital and wages needed to import raw materials is Vietnam.
Spin
The biggest cost pressure faced by the garment industry is that the import amount of raw materials has reached US $9 billion 200 million this year.
The rising wages of workers, which account for 65% of the cost of expenditure, also cause great distress to the operators.
The Vietnamese government intends to set the textile and garment industry as a sharp export industry, and is looking forward to developing and upgrading cotton fabric production capacity, producing 500 thousand tons of cotton cloth annually and creating 2 million 750 thousand job opportunities.
At present, there are about 3700 manufacturers in Vietnam's textile and garment industry, which are mainly concentrated in two major cities of Hanoi and Hu Zhiming.
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