August 12, 2020 19:33

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Textile industry urged to create highly added value products

16:53 | 14/12/2019

Prime Minister Nguyen Xuan Phuc has asked the textile and garment industry to strongly shift from processing to production aiming to create more highly added value products

textile industry urged to create highly added value products

Speaking at a ceremony to mark the 20th founding anniversary of the Vietnam Textile & Apparel Association (VITAS) in Hanoi on December 13, PM Phuc stressed that with 7,000 enterprises operating in the field, the sector is making important contributions to the country’s development.

He praised VITAS for well performing its task as a bridge between the Government and enterprises, as well as in giving policy consultations, especially in negotiating free trade agreements (FTAs) between Vietnam and partners.

The PM urged the sector to swiftly converting production model in order create higher added value products, saying that with its increasingly export turnover through years, the sector is contributing to ensuring social security, increasing budget collection and promoting economic structure shifting.

PM Phuc also pointed out shortcomings and difficulties facing the industry, saying that the production still depends on imported materials.

He stressed the need for textile enterprises to focus on building trademarks for their products, take measures to promote sustainable development, and fully tap advantages brought by FTAs that Vietnam has joined.

The government leader asked the sector make more efforts to reach a higher ladder in the national economic value chain, towards helping the country maintain its position of the world’s third biggest textile and garment producer.

On the occasion, the PM presented the Government's Emulation Flag to the VITAS.

Vietnam’s textile export turnover is forecast to hit 39.5 billion USD in 2019, up 9.1 percent year-on-year. The figure is expected to reach 110 billion USD in 2030.

Source: VNA