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"Vietnam News Agency" reported on December 12 that VU DUC GIANG, chairman of the Vietnam Textile Association, stated at the 6th Vietnam Textile Association Conference and the 2020 Summary Conference that Vietnam’s textile exports in 2019 are estimated to be 38.9 billion U.S. dollars. The export volume in 2020 is about 35.2 billion U.S. dollars, and the export target by 2025 is 55 billion U.S. dollars, of which 3.5 billion square meters of fabrics are exported, and 8,500 products of clothing are exported. Strive to achieve a trade surplus of 33 billion U.S. dollars by 2025, with an average annual growth rate of approximately 11.6% for the period 2021-2025.
In order to achieve this goal, the chairman of the Vietnam Textile Association stated that in the period from 2020 to 2025, the association will be committed to comprehensive, research and propose insufficient policies and mechanisms to the government and various ministries; it will play a role among member companies to form satisfaction. The textile supply chain required by the origin of the Free Trade Agreement; links domestic schools and research institutes with enterprises to train high-quality human resources. In addition, it is also recommended that the Ministry of Industry and Trade of Vietnam submit the "Vietnam Textile and Garment Industry Development Strategy by 2030 to 2035" to the government for approval as soon as possible. The content includes national plans and the construction of infrastructure for large-scale textile and garment industrial zones, and the construction of a centralized wastewater treatment system. Attract color and dyeing projects; prioritize projects with advanced technology. At the same time, the government and various ministries should continue to reform administrative procedures, eliminate difficulties, ensure a smooth business investment environment, and reduce business costs. The association suggested that the Ministry of Finance of Vietnam should study and suggest to the government that the value-added tax should be abolished for enterprises that use domestic fabrics for export processing, creating conditions for the formation of a link.